Last Thursday I mentioned the rising wedge that had been forming on NZDUSD since the July 25th low at 0.6956. Approximately 24 hours after that commentary went out, Janet Yellen took center stage and managed to push the US dollar higher with rhetoric that was more hawkish than expected. Just yesterday I mentioned the pattern again in the weekly forecast, only this time I highlighted the key technical break from Friday’s session. The best and most favorable entry when trading a rising wedge is on a retest of former support as new resistance. However, those who have used technical patterns for some time will know that ... (full story)