NZD/USD has since late 2000 been in a major Zig-zag correction. The entire correction has been defined by the green Pitchfork and the throw-over in July/August marks a major top and a return to the Pitchforks mid-line, which currently is located at 67.00 is the next downside target. The latest confirmation, that we are headed towards the Pitchforks mid-line is the break below the medium term support line at 75.72.
Tuesday, November 22, 2011
NZD/USD - Breaking down
NZD/USD has since late 2000 been in a major Zig-zag correction. The entire correction has been defined by the green Pitchfork and the throw-over in July/August marks a major top and a return to the Pitchforks mid-line, which currently is located at 67.00 is the next downside target. The latest confirmation, that we are headed towards the Pitchforks mid-line is the break below the medium term support line at 75.72.
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