From the technical view:
1. From the Monthly and Weekly perspective, the price reached the major resistance area, so we can expect price will reject it and start to move to the downside.
2. From the Daily perspective, price currently is in the consolidation phase, since it moving inside the rising wedge, and create a small W pattern, thus we can expect a move to the downside at least to the neckline of the W.
From the fundamental view:
1. Big players are quite bullish on the NZD
2. In the new report, they don't have any action in the NZD, which means no proper adding long and short at the moment, that why we can see that NZDUSD is in the consolidate phase.
How to approach NZDUSD?
1.Going to the lower timeframe, and wait for market environment switch to the bullish market from the bearish market, after that you can be looking for potential short opportunity if your rules of the strategy are fulfilled and targeting the neckline of the W.
2. Just short at the moment is not a good idea, because the lower timeframe still indicating bullish market, LH and LL still forming, price can easily move to the downside aggressively.
3. If the W pattern will complete, we can be waiting for the price break below the wedge pattern with a proper retest on in, then we can be looking for the second short opportunity.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on NZDUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly and Weekly perspective, the price reached the major resistance area, so we can expect price will reject it and start to move to the downside.
2. From the Daily perspective, price currently is in the consolidation phase, since it moving inside the rising wedge, and create a small W pattern, thus we can expect a move to the downside at least to the neckline of the W.
From the fundamental view:
1. Big players are quite bullish on the NZD
2. In the new report, they don't have any action in the NZD, which means no proper adding long and short at the moment, that why we can see that NZDUSD is in the consolidate phase.
How to approach NZDUSD?
1.Going to the lower timeframe, and wait for market environment switch to the bullish market from the bearish market, after that you can be looking for potential short opportunity if your rules of the strategy are fulfilled and targeting the neckline of the W.
2. Just short at the moment is not a good idea, because the lower timeframe still indicating bullish market, LH and LL still forming, price can easily move to the downside aggressively.
3. If the W pattern will complete, we can be waiting for the price break below the wedge pattern with a proper retest on in, then we can be looking for the second short opportunity.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on NZDUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.