Price is testing the lower bond of a triangle pattern and soon we are going to have a setup completion. Because of MACD divergence i believe that price will reverse and head up, probably breaking above the corrective pattern. In this case we should wait for a buy setup to form and go long. Otherwise if we have a breakout below the triangle we should sell NZDUSD for another impulsive move to the down.
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This is not a triangle pattern. It's a wedge! I was describing a couple other ideas at the same time and by mistake a posted this as a triangle..!
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Price broke above the wedge pattern. Keep a closer eye for a buy setup to complete..
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This wedge worked great.. I wait for a correction, and we may have another up move soon.. I will update if any setup forms..
