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NZDUSD Broadening Wedge an Early Warning Sign?
Over the weekend I mentioned the 0.7200 area on the NZDUSD. At the time the pair was trading below 0.7100 and looked more likely to break ten-month channel support than it did to retest 0.7200. Yet here we are less than four sessions later watching the risk-sensitive pair chop around the 0.7200 region. In most cases, we would look at a breach of this area as a sign of bullish continuation. However, the emergence of a broadening wedge pattern on the 1-hour chart tells a different story. Unlike a narrowing wedge – which is often deemed to be a continuation pattern – a broadening wedge is typically viewed as a sign ... (full story)
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- Oct 20, 2016 12:01pm Oct 20, 2016 12:01pm
- kingleeny
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ITS ABOUT THE CASH NOTHING ELSE.
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