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RISING WEDGE FAILURE- CHANCE FOR EITHER SIDE.

 

 

Following its failure to cross the “Rising-Wedge” 2 months old, the NZDJPY could not cross the horizontal 76.30–20 that turns the focus of the market to 75.15–10. If the pair decreases below 75,10, the barian formation support at 74,45 will be essential, since a lasting decline below 75,75 and then 73,40 consecutive supports might not hesitate to catch the quote. In the meantime, a 76.30 upside break may be required to validate the strength by crossing the resistance pattern at 76.40. Due to the daily closure after 76.40, the 76.65, the 77.15 and 77.70 registered pairs can entertain purchasers before being challenged by 78.20 and 78.85 in north.

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Note:

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Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best

Forextamil

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21 Feb 2019 5:03 pm Posted by tamilforex

 
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