Your Kiwi Analysis = My Kiwi Analysis?

Good evening ladies and gentlemen

I hope you all had a wonderful two days so far in the markets.

Yesterday I left you with the currency of choice for this week which is the Kiwi. As I was not able to do a proper update, I left you to do your own analysis to see if it matched mine. So lets see how it went!

Starting with the weekly we can see that price has retraced to a cluster of the VI, a Fib Breather level and a RN of sorts.

On the daily, posted below, we can see in more detail what exactly is happening. There is a divergence on MACD, with a triple top at the figure which also clusters with the Fib Breather level. RSI is above the midline but pointing down. What about stochastics?



The VI is below price so could we be seeing a drop in price again and a restest of the VI? Today's bar is bearish so far so could this be an early sign? Looking at the 1 hour chart, we can see confluences that we should be familiar now that was the catalyst for the Bears to out do the Bulls today.



Ok well lets see if price continues to drop during the rest of the week or could it ignore these clusters and muster up enough energy to push through!?

I will leave you with this thought "Life is just a chance to grow a soul!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari