NZD/USD downtrend developing
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Hello,
NZD/USD downtrend taking shape, price is pulling back, will look for short position as soon as pull back momentum will decrease, probably rejecting 50 EMA and 0.382 fib, even though given the current acceleration I'd say it could even reach 0.5 or 0.618, while waiting for Fed's rate hike.
Either way keep your eyes peeled and be ready to get in the trend!
NZD/USD downtrend taking shape, price is pulling back, will look for short position as soon as pull back momentum will decrease, probably rejecting 50 EMA and 0.382 fib, even though given the current acceleration I'd say it could even reach 0.5 or 0.618, while waiting for Fed's rate hike.
Either way keep your eyes peeled and be ready to get in the trend!
Nota
Looks like price is acting how it was expected, flat MACD on 1H timeframe suggesting a chance in momentum. Let's see how bulls will respond to this strong bear move before entering shortNota
Nota
quick follow up of NZD/USD, price went down as expected, forming now head and shoulders pattern on 1H, let's see if it will manage to break the neckline before NY close 
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