Kiwi: The convergence signals for a big move.
Look at on the chart, there is a rare incident I see on the chart:
- SMA200+SMA100+SMA50 converge in a range about 70 pips.
If NZDUSD breaks those move averages, we could see a big move.
I see NZDUSD has had many efforts to break SMA200,unfortunately it still hold below it.
This week, I lean to US side and bet on bearish side for NZDUSD because of downside risk remain.
- SMA200+SMA100+SMA50 converge in a range about 70 pips.
If NZDUSD breaks those move averages, we could see a big move.
I see NZDUSD has had many efforts to break SMA200,unfortunately it still hold below it.
This week, I lean to US side and bet on bearish side for NZDUSD because of downside risk remain.
