Here, I have used the time cycles approach to determine major lows in the FX:NZDUSD pair. After doing little bit of shifting of the WEEKLY and MONTHLY cycle arcs, I was able to figure out that, the FX:NZDUSD pair is currently in a 3073 days or 100 MONTH cycle, on average. This means that every time we reach the end of a 100 month period, we are most likely to be at a SIGNIFICANT LOW on this pair. The major structure of this market is still BULLISH, which is represented by HH's and HL on this monthly chart. We also got 2 VALID MONTHLY TREND LINES that could potentially act as support and possibly turn this pair back to the upside. See the chart above for more details.
For detailed explanation on the time cycle approach, check out my previously posted ideas listed under the RELATED IDEAS section below.
NOTE: Today we have 3 high impact news coming out from US in less than 15 minutes, Average Hourly m/m, Non-Farm Employment Change, and Unemployment Rate. Everyone will be paying close attention to the Non-Farm Employment Change (NFP), since this news always causes huge moves in the markets.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)