Short
New Zealand Dollar Analysis - Short
NZDUSDSeveral factors pointing to a reversal in price:
- Fibonacci Cluster (161.8% extension, 327.2% projection, 70.7% retracement)
- 9 month Trend line Resistance (9/7/16-present)
- Elliott Wave 5 Top
- Supply zone
- Doji candlestick
Tough to short against such a strong uptrend, therefore look for confirmed reversal in form of back to back bearish candles, lower high + reversal candlestick, etc.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.