NZDUSDWe are looking for a break of trendline on this pair once that happens, always be on the lookout for the retest of the trendline before continuing to drop to TP zone and monthly support area 0.66xxx area..
Fxntrading
NZDUSDDowntrend Rising Wedge
Breakout
If the rising wedge forms after a
downtrend, it’s usually a confirmation
of a Continual Bearish Signal.
Place an Entry Order when price breaks
the rising wedge formation.
AUDUSD If the rising wedge forms after a
downtrend, it’s usually a confirmation
of a Continual Bearish Signal.
Place an Entry Order when price breaks
the rising wedge formation.
Notice:
Just like in the other Forex trading
chart patterns we discussed earlier, the
price movement after the breakout is
approximately the same magnitude as
the height of the formation.
EURJPYCurrently this pair had made the retracement .. this pair is currently is in an uptrend 200 EMA on daily and 4Hr chart confirm this .. we look for this pair to ultimately go to weekly resistance area at 126.500 zone
USDCADCurrently this pair just started a down trend confirmation with 200 EMA on both 1hr and 4hr charts.. we are looking for a retracement to the 1.32103 area and then for this to continue on its down path.
