The NZD/USD pair has topped out

Forexmentor.com Forex Trading Price Action

The KIWI (New Zealand dollar) NZD/USD has topped out folks. You heard it here first. Recent GDP data disappointed.

Technically, last night – well before the London open today – the charts said it all: The weekly is displaying a Head and Shoulders pattern, there is a Tom DeMark resistance (a.k.a. resistance or supply) line in place on the daily chart, 50x100x200 Death Crosses times three on the hourly chart, etc. Need I say more?

Today, price came into the session, and met with resistance at the central pivot point – this after the 50x100x200 EMAs performed three Death Crosses back-to-back. Price then swooned to M1 – the expected low on this M1/M3 day, whereat it stopped dead in its tracks.

These pivots work folks, if only you would believe it to be so. Stay tuned for more AM Reviews that set you straight but, in the meantime, get the straight skinny on the forex trading facts at www.forexmentor.com.

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