Menu

  • NZD/USD About to Break from Recent Congestion

    From fxtimes.com

    Congestion after Breakout: The NZD/USD broke above October’s declining consolidation trendline last week on 10/24 when it swung from near 0.81 to about 0.8240. It has since fallen into a congestion pattern, or a triangle as seen in the 4H chart. Momentum: The RSI reflects the same dynamic in momentum, kissing 70 then getting stuck between 40 and 60. The fact that it remained above 40 suggests that there is very short-term bullish bias especially if it can push back above 60. This scenario would accompany a price breaking above the 0.8240 high from last week. Breakout: A break above 0.8240 does suggest further ... (full story)

  • #1
  • Quote
  • Oct 31, 2012 2:52pm Oct 31, 2012 2:52pm
Here's hoping that the China data this evening will break this out.
  • #2
  • Quote
  • Oct 31, 2012 3:03pm Oct 31, 2012 3:03pm
i expect CNY data to be bad
Quoting JeremyWS
Here's hoping that the China data this evening will break this out.
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #3
  • Quote
  • Oct 31, 2012 3:27pm Oct 31, 2012 3:27pm
im also expecting CNY data to be bad....
We live in a finite world with infinite possibilities.
  • New Comment
  •  Trader#4112
  • | Status: Unregistered Trader
Create Account
  • Story Stats
  • Posted: Oct 31, 2012 2:48pm
  • Submitted by:
     fxtimes
    Category: Technical Analysis
    Comments: 3  /  Views: 1,601