NZD/USD could DROP soon!
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Hey tradomaniacs,
NZD/USD is currently forming a potential Double-Top-Pattern after an attempt to break above the monthly key-resistance.
The DAILY RSI is showing an completly overbought situation causing NZD/USD to consolidate with a weaker performance compared to its competitor AUD/USD.
A break below the 50 EMA, Trendline and horizontal support-zone could cause more momentum to the downside and give us a great opportunity to short.
A risk-off-sentiment in the stockmarket woulde confirm this idea in terms of correlations.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
NZD/USD is currently forming a potential Double-Top-Pattern after an attempt to break above the monthly key-resistance.
The DAILY RSI is showing an completly overbought situation causing NZD/USD to consolidate with a weaker performance compared to its competitor AUD/USD.
A break below the 50 EMA, Trendline and horizontal support-zone could cause more momentum to the downside and give us a great opportunity to short.
A risk-off-sentiment in the stockmarket woulde confirm this idea in terms of correlations.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Bình luận
Looking at volume you can clearly see no open interest with the previous breakout above the mnothly resistance.
The current retracement will show whether this has been a fakeout or not.
If so, we will get a very nice chanc e to short!
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