If you can’t get enough of comdolls, then you’re in luck!
Get ’em while they’re hot yo!
NZD/USD found resistance at the .6150 zone, which opens up the possibility of a retracement to the .6075 levels.As you can see, the area lines up with not only a previous resistance, but also a 50% Fib retracement near a trend line support on the 1-hour time frame.
The pair has some ways to go before hitting the retracement zone, though, so y’all still have time to design trading plans if you’re planning on jumping on NZD/USD’s uptrend.
Buying somewhere along the Fib lines would make for a good trade especially if NZD/USD jumps above its current weekly highs.
If you’re one of them Kiwi bears, then you can wait for a break below the trend line AND the SMAs on the chart before targeting areas of interest near .6000 or .5950.
Pattern traders gather ’round!USD/CAD is chillin’ like a villain at 1.3850, which is right smack at a descending triangle support on the 4-hour time frame.
Can dollar bears force a downside breakout today? Shorting at a clear break below the support could lead to a move back to the 1.3500 previous area of interest.
But what if USD/CAD finds support at the level? Dollar bulls can buy at the first signs of bullish momentum and aim for a retest of the descending trend line resistance or even a breakout that could push USD/CAD back to 1.4200 or 1.4400.
Watch this one closely, yo!