NZDJPY ANALYSIS, DOES HISTORY REALLY REPEAT IN TRADING?
HELLO ALL,
NZDJPY SEEMS TO BE AT A DAILY RESISTANCE AREA WHERE IT REJECTED AT WEEKS END. THE PAIR IS IN AN AREA WHERE IN 04TH FEBRUARY IT STARTED A SIDEWAYS TREND THAT BROKE OUT LOWER AROUND THE 25TH OF FEBRUARY. CAN THIS PAIR DO THE SAME THING BEFORE BREAKING OUT HIGHER?
FOR THE TIME BEING, LOOK FOR THIS PAIR TO RETRACE SOME BEFORE MOVING UP TO THAT RESISTANCE AREA OR BREAKING OUT OF IT. 4 HR CHART SHOWS OVER EXTENDED ON RSI SINCE 01ST OF JUNE SIMILAR TO DAILY RSI. LOOK FOR PRICE ACTION AND FUNDAMENTALS THIS COMING TRADING WEEK. GOOD LUCK TO ALL!
NZDJPY SEEMS TO BE AT A DAILY RESISTANCE AREA WHERE IT REJECTED AT WEEKS END. THE PAIR IS IN AN AREA WHERE IN 04TH FEBRUARY IT STARTED A SIDEWAYS TREND THAT BROKE OUT LOWER AROUND THE 25TH OF FEBRUARY. CAN THIS PAIR DO THE SAME THING BEFORE BREAKING OUT HIGHER?
FOR THE TIME BEING, LOOK FOR THIS PAIR TO RETRACE SOME BEFORE MOVING UP TO THAT RESISTANCE AREA OR BREAKING OUT OF IT. 4 HR CHART SHOWS OVER EXTENDED ON RSI SINCE 01ST OF JUNE SIMILAR TO DAILY RSI. LOOK FOR PRICE ACTION AND FUNDAMENTALS THIS COMING TRADING WEEK. GOOD LUCK TO ALL!
