Ok please see what I Think is possible scenario. We have price retracing back to range of 1.00130, possibly that level will be made by 1-2 candles and quick return to start of spiking level. then we should see longs a bit of time. Please see various TF with Ichimoku and Bollinger bands
It is marked that we have divergence, and possible swing to previous Highs before that swing. Jpy was strong in recent time and it has stalled last week if we will see breakout from marked zone I would expect 200+ pips.
Nzd was performing extremely well in recent time, that may be time for correction. Having in mind US economy and relatively strong dollar and good data coming from that market also forecast to rise interest rates by FED that makes sense. A cypher pattern to draw which also is confirmed by other strategy and is in line with long term trend on that currency. I am...
It is just an idea which is supported by a bit of fundamental and technical.
As we can see on chart I did draw a pattern for long position, so if that break resistance level 130.984 I would go for buy order at 131.439 and TP 132.184
SL in your will.
Pattern I did not take very much as a reason for that forecast, mainly looked on EMA/MA. In this situation Short position is 50/50 but if you set SL on marked level you can set BUY order just in the same place.
According to reports from USA and Japan it is looking to be hot next week. I think I will stay away from USD pairs and that looks like good option.
There was support on that pair around 81 but it started going down again and it looks like it may be continuation of trend started this year.
From technical point of view that also looking like it may break that...