Type: Bearish ReversalKey Levels:Resistance: 0.61959Pivot: 0.61082Support: 0.60072Preferred Case:On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the pivot at 0.61082 in line with the 127.2% fibonacci extension to the 1st support at 0.60072 in line with the 161.8% fibonacci extension and 100% fibonacci projection.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 0.61959 in line with the overlap swing high and 100% fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdusd-h4-or-potential-bearish-continuation12"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.