NZDUSD (Lost Bulish Momentum) Going SOUTH
www.tradingview.com/e/KLYqlrrr/ (Daily Analysis) -> same technical= going south
From RSI Analysis and Momentum Price Action, there is solid divergence showing Bears wining momentum. Moreover, on Daily Analysis, @ closing price 0.8702, where was highest high for several sessions, that level was lowest high on RSI, with below level of 70. This indicates bulls are losing strength and definitely on the analysis given, bears moving price South.
Finally, this particular level 0.8700 has touched an ascending trading resistance line back in '96, it was several time tested. Furthermore, whenever we had price level at that ascending res line, we had pull backs/down pressure.
Have a nice trading week,
V.
P.S
The link is daily analysis check it out.
From RSI Analysis and Momentum Price Action, there is solid divergence showing Bears wining momentum. Moreover, on Daily Analysis, @ closing price 0.8702, where was highest high for several sessions, that level was lowest high on RSI, with below level of 70. This indicates bulls are losing strength and definitely on the analysis given, bears moving price South.
Finally, this particular level 0.8700 has touched an ascending trading resistance line back in '96, it was several time tested. Furthermore, whenever we had price level at that ascending res line, we had pull backs/down pressure.
Have a nice trading week,
V.
P.S
The link is daily analysis check it out.