Price pulled back into daily resistance and put in a pinbar on the hourly chart also reaching our 50 percent fib retracement, we're looking for a move into the next resistance zone with our targets a little bit below for additional safety.
NZDUSD Made it's way into daily structure and put in a double top along with RSI divergence. This move is also accompanied by an ABCD pattern completion at the 1.27 extension. Looking for a move down near the previous low.
Price came into a daily structure zone which also has fib extension and fib inversion levels present along with a termination of a harmonic move, additional confirmation comes from an overbought RSI and a doji on the hourly chart.
Stops are placed above the daily structure zone and targets are around the previous highest low.
As our retracement ends around the 0.5 and the 0.618 fib levels we restested previous support and put in two nice daily pinbars. Additionally the RSI is also hanging around the overbought condtion.
Japanese yen gains strength in times of uncertainty like the current situation in Greece and although I never like going against the dollar I wouldn't be surprised if we see a slight sell off. The tehnicals show a resistance level struck which is also around the 382 fib level a harmonic move would place us right at a major support level as well. Since I never like...
