The Kiwi has definitely topped out

Forexmentor.com Forex Trading Price Action

The Kiwi (New Zealand currency) has definitely topped out, as evidenced by MACD’s attitude on the weekly chart. That said, MACD on the 4 hour and 1 hour charts is reflecting a short-term correction to the upside. That can be seen on the 15 minute chart, where price came into today’s session, above the central pivot point – trending up.

When a market is moving up (or down), an oscillator like Stochastics (STO) is a good vehicle to pick your entry points – when it goes oversold (in an up-market) and overbought (in a down-market). On another front, I will more than likely be out of the USD/CAD pair this coming Monday. I will confirm that if and when it happens.

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