Kiwi (fx)

324 views

I’m posting the NZ/US pair and I’m seeing similar patterns in AUD$ as well.

First, have a look at the 4 hour chart, price has been bouncing off the intermediate trend line. Stochastic has dropped down and MACD is fading:

Price is still below the Daily upper trend line ,so if we could be just seeing a small pull-back for a possible run North. Let’s see if price holds the line around .7730* and reverses

IF it breaks and continues down past the 38.2 then the next support is about half-way to the 23.6 (.7650*)

Looking at the Daily:

 

The yellow ema would be the bounce target, crossing the blue just above the 38.2 fib.  and could be a good place to enter long

So far it looks like a weaker pull-back, over all we have candles making higher highs and higher lows

The 50 sma is turning up (ever so slightly), here comes the Fib-Murrey slant. Looking “left”, if we do bounce up and price breaks higher I’ll target next resistance at the half-way point between the 50 and the 61.8 fib lines

Nothing is guaranteed of course but an entry at the cross would allow a smaller stop .

If you have noticed support/resistance lines not quite matching up with Fib lines, you may find this interview of interest:

Matt Davio talks with Victor Zubarev of PNW Capitol

math talk around the 14 minute mark…2 part interview

 

Comments are closed.