NZD/USD – Short after a correction from the main trend

NZD / USD Daily Chart Our Expectations: Declining trend, correction to diagonal resistance and Andrews pitchfork Possibility for short positions with stop 0.6643.

Alternative scenario: If the price breaks diagonal resistance, the correction may be deeper, sending the price to 50% fibonacci.

Comment: Downward movement, correction to diagonal resistance, Andrews pitchfork and 23.6% Fibonacci. Failed attempts to break lines on the Alligator indicator suggest that sellers are not willing to give up on these levels. The CCI 50 is below 0 indicating that the price is currently in bearish control. We wait for the CCI 14 to cross 0 from top to bottom for a more precise entry.

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