EURNZD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on

Midterm forecast:

1.6815 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 1.6815 is broken.
Technical analysis:

There is a divergence in RSI and price between the trough at 1.65555 on 2018-11-15 and the trough at 1.6328 on 2018-12-05, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
While the RSI resistance #1 at 43 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 1.6325 on 12/05/2018, so more gains maximum to Major Resistance (1.6815) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 41.

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