Price has reached correctively on the Key level as per monthly TF.
It has formed a rising wedge pattern. And is expected to go short with minimum TP is the blue ray line. But it looks like it has more room to head lot lower.
Will look to scale in more position as it imprints with a continuation pattern.
Will Break even this trade ones it has crossed 1% of my SL.
Going long if price breaks above 0.61471 (Showing broken resistance because of the 2nd touch).
Going short if see a valid entry below 0.61102 (invalid support).
buying at market price but ALSO Looking for a small pullback to get into the market at a bigger position if it pulls back.
Market definitely has potential to shoot higher than our target so I would advise at least taking partials at the TP zone
SL is at 0.6587
TP is at 0.6615
New Zealand dollar is heading towards major resistance 0.65000 against the US dollar following a respite in US-Sino trade tensions. Technically, the pair has sustained the breakout of a downward wedge pattern in a daily time frame chart and would face immediate resistance level at 0.64829. The increase in selling pressure will force it to climb until the second...
