📍 My dear readers, it is clear what we are trying to achieve here.... a protection of the highs / resistance with initial targets at our centre / pivot and extension targets below at support.
The control which belongs to buyers is blockaded and open to attack.
It is expensive to maintain the highs; this means that the necessary pullback when energy exhausts is all too easy to ride. It appears quite appropriate to consider the Dollar selloff exhausted and an advance in DXY via extreme risk-off flows as investors look for cover under the table.
Keeping a close eye on 0.70c as it turns out to be deceptive for buyers as the government is clearly feeling pressure from the RBNZ QE approach. Look to buy NZD but from cheaper levels, until then... looking to play the retrace lower.
Thanks as usual for keeping the feedback coming 👍 or 👎