NZD/USD Symmetrical Triangle

Discussion in 'Forex' started by DannyBly1, Jul 7, 2008.

  1. Looking at the daily NZD/USD we can see pressure building along the lower trend line of the symmetrical triangle -beneath we have support at the double bottom in the 0.7369 area - adding to the bear case we are trading below the 200 period SMA and selling momentum is strong as reflected in RSI.

  2. Agree with TA also supported by FA. NZ economy appears to be in recession can't see current interest rates remaining high for much longer. Q1 GDP -0.3% and no rate cut.
  3. That is 100% not a symmetrical triangle! There is too much white-space. On their own those are good S/R lines, but they do not form a triangle.

    Check out: Encyclopedia Of Chart Patterns by Bulkowski.
  4. wanna see a good symmetrical triangle?..put uj up on a 1hr