NZDUZD is set to Drop
| Event | Time | Instrument | Impact |
|---|---|---|---|
| Core Retail Sales m/m | 3:30PM | USD, Major Pairs |
NZDUZD today looks to be hammering a double top around the 0.60788 level. Should it hold then a little upward push is expected to about 30 pips above the zone. The anticipation here is that the 0.6078 price level will hold. Wait for a bearish engulfing candlestick pattern for a confimation with a stop loss at 0.60917 and a take profit at 0.60300
Reviewing Analysis and Comparing Projections to Actual Market Movements.
The Resistance zone at 0.6078 held inspite of the Core Retail Sales 3:30pm high impact news to form the earlier anticipated double top, a text book bearish set up. True to the technical analysis, an entry opportunity was presented (a bearish engulfing candlestick ) in the 15 min time frame and the market neatly dropped a beautiful 40 pips smashing past the recommended take profit at 0.60300.
| ID | Entry Time | Exit Time | Pips Made | Asess Signal |
|---|---|---|---|---|
| NZDUSD | 3:59PM | 7:00PM | 30 | |
