SteynTrade
Long

NZDUSD the breakout before the mark up?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
On the weekly time frame the price has broken the Kumo but the Chico Span still has to break. We could see some consolidation at the final resistance before the final mark up. Looking at the daily time frame the final consolidation before the mark up could occur before the final breakout of the 55 Day Oscillation frequency (OF). The Kenjen sen, Tenken sen and Senko Span B are all up. The market is currently following the 21 Day OF. Up moves are support by volume increases and pullbacks with volume declines sowing signs of strength. A Wyckoff Analysis also indicates a final breakout to occur.
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