Round up on Kiwi

Good morning Dynamic Traders

Welcome to another week of trading, fingers crossed it’s as good as last week.

I’d like to start by congratulating Zaheer and Imran, funny enough that also a target of mine. Well done lads!!

Time to round off the week on the Kiwi. I left Friday morning asking, whether the Kiwi would be able to beat the RN. The answer is No, the Kiwi didn’t manage to beat the RN and in fact dropped during Friday and has continued to fall this morning.

In the 4 hour chart below you can see the same Divergence from the MACD and the same Sell Signal from the MACD that I previously shown on the hour chart at the end of last week, this helps to confirm the end of the uptrend.

The Kiwi for the past week hasn’t really moved much, indicating that it wasn’t in a trend, but in a range. We did have opportunities to catch some profits, providing you had the time to manage the trade as it would have needed some attention.

This now leaves us with the question, what will now happen to the Kiwi? Is this a breather or will it continue to drop?

Happy Trading

Richard