NZDUSD Analysis 12.09.2019

Analysis based on round-number levels, price channels and modified Elliot Waves

The overall movement of the currency pair is downward. The range of the medium round level 0.6450 is actively holding back buyers. Bearish divergence formed on the Awesome Oscillator. The level H4 rising pattern is truncated and is probably the B wave of the D2 level downward pattern.

Trading recommendations:

Sell as a downward structure, where the wave (aS) breaks the sloping channel of the level H4 rising pattern while completing it + formation of (rS) = pending sell order at the break of the lower point (aC) as a downward pattern is forming.

Stop Loss Is 0.6450.

Target levels – 0.6360; 0.6282.

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