After completing a 5-wave bearish cycle within a descending broadening wedge, NFP is now trading within a key re-accumulation zone, suggesting a potential macro reversal is forming. The price recently rejected from the $0.1133 resistance and may continue consolidating before initiating a bullish leg towards the re-accumulation zone.
A confirmed breakout above the trendline structure at $0.1853 could kickstart a multi-phase rally with long-term targets above $1.50. Patience is key as we monitor this unfolding structure.
A confirmed breakout above the trendline structure at $0.1853 could kickstart a multi-phase rally with long-term targets above $1.50. Patience is key as we monitor this unfolding structure.
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