Bearish Cypher Pattern Around The Corner - NZDUSD
We've all been bearish on NZDUSD and the Trade Balance came out negative today.
It's especially a bad news for New Zealand which it's economy is based on exports.
The price seemed to ignore the bad news and correct its way higher.
And now it's came to a resistant area which forms a Cypher Pattern.
I usually don't trade this pattern because I doubt its technical basis, but this one is backed by fundamentals so let's give it a try.
It's especially a bad news for New Zealand which it's economy is based on exports.
The price seemed to ignore the bad news and correct its way higher.
And now it's came to a resistant area which forms a Cypher Pattern.
I usually don't trade this pattern because I doubt its technical basis, but this one is backed by fundamentals so let's give it a try.