Business Magazine
I have been tracking NZDUSD for a potential hold of the pivot low over the past few weeks. Overnight we got a strong move up and have broken the prior week high. The support came off the weekly Ichimoku Cloud Baseline Support we have been tracking.
The conversion line crossed the baseline on October 19 inside the cloud which is a neutral cross (not bearish, not bullish). The 8/21 EMA pairs are still bullishly crossed signfying bull trend. As of now (week is not over) we have a bullish Elder Impulse Entry signal on the weekly (13 EMA is pointed up, and MACD is rising).
Here is the chart and the price and time levels if the move continues.
There is always a bull path and a bear path. Nobody can know which path the future will choose. As always, do your own due dilligence, read the disclaimer, and make your own investment decisions.
Hope your holidays are treating you well.
Peace, Om,
SoulJester