The New Zealand dollar fell significantly during the day on Tuesday, crashing into the bottom of what I see as asymmetrical triangle. Ultimately, if we
The New Zealand dollar fell significantly during the day on Tuesday, crashing into the bottom of what I see as asymmetrical triangle. Ultimately, if we can break down below the bottom of the range for the day, I think we should have enough momentum to finally break down to the lower levels that would completely collapse the market. Alternately, if we turn around and bounce I believe we just simply continue to grind in this consolidation that we have been in for several weeks. I would be very patient before pulling the trigger in this pair.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
