NZD/USD looks short for multiple reasons. Besides seeing significant strength in the USD the next two weeks, it looks like this has ran out of steam. Nice rejection of the resistance on the daily with beautiful rejection wicks. Formed a lower high and a lower low on the 4 hour. also broke the support on the 4 hour so we might be on our third wave down which typically reaches 1.6% or more of the first drive of elliot wave theory. Looks like a quick 100+ pips. My stop will be 1 pip above the most recent high of the month.
Kommentar:
Correction Lower high and lower low**