NZD SIDEWAY MOVEMENTWe have seen a lot of sideways momentum on the pair the past few days.
The pair is now approaching key levels, a break and retest of support zone @ 0.67229 will initiate shorts to 0.65710. However if support holds within the zone we could see a the pair continue to range between 0.68727 & 0.67229
TRADE WITH CLARITY, PATIENCE and PRICE ACTION!
Nzd-usd-short
NZD/USD, taking a short trade here. Chance for mega short! Here on the 4h chart we have:
1) a nice heads and shoulders set up with neckline below the trendline.
2) a good 61.8% retracement
Took a short on this pair at 0.6660, still awaiting for prices to close below trendline for further shorts. TP at neckline.
Lets hope this one plays out fine. Goodluck to everyone (:
NZDUSD: Cypher - ShortOn FX:NZDUSD , the market has no clear direction on 1h Bars. It moves sideways. there is a resistance level at 0.6778. The price hit it few items today, but it rejected and formed shooting stars. There is 2 options. 1) price may bounce again on that level and sellers will get control and price will go down. 2) the price breaks the resistance level. If it does then we have a structure high around 0.6830 and cypher pattern. Cypher has a highest winning rate among harmonic patterns and it may be a good opportunity to short.
T1 - 38.2%
T2 - 61.8%
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