Power Move on EUR/NZD for just over 1%.
Confluences +ve:
Weekly:
-The weekly chart has shown a nice bearish run off resistance.
Daily:
-Rejection of resistance
-Bearish Engulfing Candlestick
4HR:
-Trending below the 50EMA
-LL lows made
-Bearish MACD Divergence
-Head and Shoulders Pattern
1HR:
- Continuous LL and LH
-Breakdown from rising wedge...
Looking at my quick analysis we are either into wave 3 or in the process of completing wave B and going into wave C. Let's see if this plays out, correct me if i'm wrong.
This is the strongest the JPY has been in a while. I'm expecting it to have a pull back to the 131.700 area and then shoot back down. We'll see how it plays out. Anyone else using the indicator ichimoku, feel free to message me, I would love to hear some new ideas!
