DPA_FxKnight

DPA_FxKnight

The pair has formed what looks like a falling wedge. Earlier we saw the USD flexing its muscles against the GBP. I am short on the break and close below the supportive trend line. Any thoughts and or comments are welcome.

DPA_FxKnight

Updated chart: NZDUSD has broken the supportive trend line on the H4 chart, the downtrend has been confirmed. Now we need to find an entry point on the pullback (0.60503 or 0.60394 areas) and then ride the wave all the way down about the 0.59172 area. if the trade is not triggered by the end of today, then you can cancel the order.

DPA_FxKnight

Technical Analysis based trade. H1 looks to be setting up a double top after retesting previous highs at the 8300 price area.

DPA_FxKnight

- The pair reached highs of 0.66355 on Dec 13, 2019. After reaching those highs, pair quickly rejected that level and then formed a bearish pin bar on the daily timeframe, suggesting the that the bears are challenging the bulls. - After the 13th, price action shows that the bulls have then struggled to retest those newly created highs and only managed to reach...

DPA_FxKnight

Looking to short the pair from the retest of the daily previous support, now resistance area of around 143.900 - 143.950 (143.942 on my chart to be exact). A short entry with TP 1 at 142.500 (current H4 support) and if price continues lower, then TP 2 at weekly support price at around 141.650. Analysis based on price action and fundamentals of a weakening pound thus far.

DPA_FxKnight

Bears have started to defend the newly highs of 8372. After yesterday's rally to new highs, the market came back down sharply, to close below Monday's daily close of 8328. I will be short at market execution with a tight SL as this index is not favouring Technical Analysis at the moment. As the old adage goes; "What goes up, must come down"