Hi friends,
I am not going to talk about the fruit (Even though I LOVE it) and not about the kiwi bird (Even though it’s really cute) but I am here to talk about NZD currency, the kiwi 🙂
When I watch deeper and deeper into the charts of this pair I see a serious drop down. As for first stage I see around 200 pips, but I would even not be surprised if the pair will even drop 600-1000 pips down.
I will try to explain on the chart why I think so. (Click to enlarge):
I will try to explain all things I see –
1- BIG deep channel, and I think we aim the lowest point of it.
2- Daily divergence
3- H&S pattern on daily chart
4- 7 spots med term channel – we have a bounce up now from the 6th spot, I expect a break down.
5- BAD news coming from New Zealand (Well, it’s not on the charts 🙂 )
So it all brings me to the opinion it is about to crash down for A LOT of pips.
I do think that with protection above last high, we can try to catch something real long and strong.
I wish you good forex trading.
Yours,
Vladimir Ribakov
http://www.vladimirforexsignals.com/
