On the Daily time frame it is important to note that the market has broken the support and turned into resistance by testing it. On the 240 min Time frame, we see that we have a very nice opportunity to go to the downside. Fundermentaly speaking NZD has being bought by the big guys in the market, But in the short term, there is a slight decrease according the last COT report, which is perfectly with our current analysis.
I agree... how much ‘weight’ or percentage of importance do you put on the Commitment of Traders number as it relates to the various time frames? I think we see that .6250 by the end of the month.... thx!
InkyGrip
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Very detailed analysis, check my view here!
Malenzo
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I also on sell here. I used to also analyze COT report but I find it jot reliable compared to the technical analysis. I decided to dump it.
Big_Player
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@Malenzo, Coupling the COT (Fundermentals) with the Technicals yeild even more good results, cause per my experience, it helps you to avoid minor traps as Stop Hunts and most importantly following the footstep of the big guys