PEPPERSTONE:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD analysis, identified that we were in a WXY wave for wave 2.

We are currently in wave Y, which is a 3 wave move. We've seen wave A and now we're in wave B. We are showing some signs of rejection at the fib level.

Trade Idea:
- Watch for rejection of fib level
- Use confirmation on lower timeframe such as trendline break or BOS
- Enter with stops above wave B or safer stops above invalidation
- Targets: 0.6 (250pips), 0.58 (450pips)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.