Hey tradomaniacs,
NZD/USD is currently forming a potential Double-Top-Pattern after an attempt to break above the monthly key-resistance.
The DAILY RSI is showing an completly overbought situation causing NZD/USD to consolidate with a weaker performance compared to its competitor AUD/USD.
A break below the 50 EMA, Trendline and horizontal support-zone could cause more momentum to the downside and give us a great opportunity to short.
A risk-off-sentiment in the stockmarket woulde confirm this idea in terms of correlations.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
NZD/USD is currently forming a potential Double-Top-Pattern after an attempt to break above the monthly key-resistance.
The DAILY RSI is showing an completly overbought situation causing NZD/USD to consolidate with a weaker performance compared to its competitor AUD/USD.
A break below the 50 EMA, Trendline and horizontal support-zone could cause more momentum to the downside and give us a great opportunity to short.
A risk-off-sentiment in the stockmarket woulde confirm this idea in terms of correlations.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Note
Looking at volume you can clearly see no open interest with the previous breakout above the mnothly resistance.
The current retracement will show whether this has been a fakeout or not.
If so, we will get a very nice chanc e to short!
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.
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.