OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
NU did a wxy off the .618 fib like EU. I am in from very botoom and will let run. NU's larger wave structure looks like it needs to do one more up to break the high. The 1.618 fib extension also lined up with the 78% fib level, major high to low. So, if it was going to go up in that 3 wave pattern I am looking for, it would make sense to do so from here. It is a trend line breakout and I feel we can expect at least a pullback to test trend line area (see orange fib levels for targets). This is more long term analysis, so nothing says we can't get some more correction back down to break the low, but I will hold my buy and continue to look for buy setups in upcoming future. Refer to my Eur/Usd markup also. Both pairs created ending diagonals before the turn, but NU's would be stunted. Which means it is incomplete or it will go up harder. I tend to think it is ready to go up. To go for the longer term trade will not be easy if you don't have a good understanding of patterns and wave theory.

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