PristineTrading
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In the chart below we will take a look at NZD/USD which, over the past several weeks, has been slowly contracting in volatility.
As you can see in the chart above, NZD/USD has been coiling since the start of November by forming lower lows and higher highs. This will lead to an inflection point where we will likely see a strong move in either direction.
Some things to take note of are the fact that at the start of November price made a new low and failed to continue dropping. Additionally, each attempt to move lower has, so far, resulted in buyers stepping up. This is important to note because the trend is down overall. Therefore it should be relatively easy for sellers to push price lower. The fact that this is not happening is worth noting.
Continue to watch this pair over the coming days as it may be getting ready to make a move. Until then though, stay disciplined and do not assume something is going to happen until it does.
Until next time, trade well!
Pristine Capital Holdings, Inc.
As you can see in the chart above, NZD/USD has been coiling since the start of November by forming lower lows and higher highs. This will lead to an inflection point where we will likely see a strong move in either direction.
Some things to take note of are the fact that at the start of November price made a new low and failed to continue dropping. Additionally, each attempt to move lower has, so far, resulted in buyers stepping up. This is important to note because the trend is down overall. Therefore it should be relatively easy for sellers to push price lower. The fact that this is not happening is worth noting.
Continue to watch this pair over the coming days as it may be getting ready to make a move. Until then though, stay disciplined and do not assume something is going to happen until it does.
Until next time, trade well!
Pristine Capital Holdings, Inc.
