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Thread: Fibonacci Trading

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#14 (permalink)

11-15-2007, 02:20 AM

Terri Belkas Terri Belkas is offline

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Join Date: Jan 2007

Posts: 806

Quote:

Originally Posted by David Rodriguez

Interesting price action in the NZDUSD. The currency's bounce has stalled at the 61.8% fib of 0.7818-0.7433 and headed lower. Risks seem to be weighed towards, at the minimum, a test of 0.7580.

This is also a 60 min chart of NZDUSD, except I measured the Fibonacci levels from the high at 0.7891. (Personally) I think these more extended measurements work slightly better. We're seeing that Kiwi remains range bound between the 38.2% and 50% retracement levels, but price is have a very tough time breaking through 0.7662.

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