NZDUSD- push higher looks VERY promising
There looks like there is a lot going on in this chart, ok so let me break it down for you.
With correlation to my DXY weakness bias this pair is screaming for a move higher, technical are also on point.
I took a long from the Breakout of the recent descending TL and bagged 5%, since then we have seen price push up higher however it is now very corrective and at a few places of interest. We are on a subjective support level (ascending trendline), also at the 50 fib retracement, a minor structure level in price as we can see this level held nicely on Thursday and Friday, we are also at the 50EMA and price is stalling.
My plan is not to trade Mondays as I see to many false moves, however I will be looking for an entry tomorrow morning.
With correlation to my DXY weakness bias this pair is screaming for a move higher, technical are also on point.
I took a long from the Breakout of the recent descending TL and bagged 5%, since then we have seen price push up higher however it is now very corrective and at a few places of interest. We are on a subjective support level (ascending trendline), also at the 50 fib retracement, a minor structure level in price as we can see this level held nicely on Thursday and Friday, we are also at the 50EMA and price is stalling.
My plan is not to trade Mondays as I see to many false moves, however I will be looking for an entry tomorrow morning.