NZDUSD Breaks Wedge Support, Targets Channel Floor

NZDUSD Breaks Wedge Support, Targets Channel Floor

23 April 2016, 12:40
Francis Dogbe
0
35
A little patience goes a long way as a Forex trader. This has never been more true after watching the last three days of price action on NZDUSD. I mentioned the ascending channel you see below on Tuesday, noting that it was a bit too soon to make a commitment one way or the other. And although the three-month price structure is still intact, the pair is one step closer to choosing a final direction. If we move down to the 4-hour chart, we can see a rising wedge that extends from the March 16th low. With the pair failing to hold above support, traders can begin watching for selling opportunities on a move lower toward the ... READ MORE
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