There are still two pitchforks in play. On the bullish one price is heading for the median line, whereas on the bearish one price has broken through the upper median line parallel. Is it going to follow the red fork or the blue one? Both currencies (NZD and CAD) have become weak and their relative strength is quite equal. The long-term trend is still bearish, but kiwi seems to have more vigor now. But as soon as it reaches the red dashed line, I'd expect another corrective down leg.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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