Forex

NZD/USD Counter Trend Move Could Be Possible Around 0.6620

October 17, 2018

2 min read

tarantula fx

Head of Trading

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NZD/USD Counter Trend Move Could Be Possible Around 0.6620

Hi traders,

The NZD/USD has been consolidating in a tight range after a bullish bounce, and we could see a potential counter trend move if the price fails to close above 0.6620.

Struggling to break 0.6600 might make the pair prone to profit taking at the confluence zone. The zone comes close to 0.6620 as we have W H5, D H4 and ATR top projection. Also the upper H4 Bollinger band is there. If we see a rejection the pair could test camarilla pivots all the way down to 0.6545. Watch for trend line break for a further continuation down.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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