From the technical view:
1. From the weekly perspective, the price created an impulse to the upside followed by a correction, now we can expect a new impulse to the upside to complete the ECW pattern.
2. From the daily perspective, the price created a W pattern and already retested the neckline of the W, which this pattern already completed, now we can expect a new impulse to the upside if the market will become bullish environment on the lower timeframe.
From the fundamental view:
1. Big players are extremely bullish bias on NZD
2. In the new report, more longs positions keep added on NZD which is around1.6k of the long and the shorts positions keep closing, total they already closed around 5.5k of the short. So we can expect NZDUSD will continue to move to the upside.
How to approach NZDUSD?
1. Waiting for the market switch to the bullish market on the lower timeframe, after that can looking for the long opportunity if your rules of the strategy are fulfilled.
2. Just long at the moment is not a good idea, because lower timeframe still indicates the market is in the bearish environment, LL and LH keep forming, the price can easily move to the downside, even though big players are bullish bias on NZD.
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 weekly perspective, the price created an impulse to the upside followed by a correction, now we can expect a new impulse to the upside to complete the ECW pattern.
2. From the daily perspective, the price created a W pattern and already retested the neckline of the W, which this pattern already completed, now we can expect a new impulse to the upside if the market will become bullish environment on the lower timeframe.
From the fundamental view:
1. Big players are extremely bullish bias on NZD
2. In the new report, more longs positions keep added on NZD which is around1.6k of the long and the shorts positions keep closing, total they already closed around 5.5k of the short. So we can expect NZDUSD will continue to move to the upside.
How to approach NZDUSD?
1. Waiting for the market switch to the bullish market on the lower timeframe, after that can looking for the long opportunity if your rules of the strategy are fulfilled.
2. Just long at the moment is not a good idea, because lower timeframe still indicates the market is in the bearish environment, LL and LH keep forming, the price can easily move to the downside, even though big players are bullish bias on NZD.
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.