hello traders,thank you for looking at my idea. As we can see on the chart above,it seems like price just hit an extreme point but
for a safe entry we will first wait for a pull back then sell the break out of the level indicated.
LOOKING AT THE LATEST COT REPORT, IT IS EASY TO SEE THAT BULLS HAVE BEEN GAINING STRENGTH SINCE OCTOBER, WE STILL HAVE SOME SHORTS TO BE CLOSED HENCE A MOVE DOWN IS EXPECTED BEFORE WE CAN THINK OF BUYING.
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So price has just made a bounce off the trend line, but I am more at ease knowing that banks a reducing their short positions on Aussie so a long is implied here
according to the COT REPORT,banks are very short on the NZD, price currently is approaching the the upper band, I AM EXPECTING TO SEE A BEARISH MOVE ANYTIME FROM NOW...
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