I left my pullback arrows there from earlier this week just as a reminder of the strength of the drive down.
Sometimes price retests but the fundamental news regarding NZ was very significant and the market is showing it.
That being said I am putting a reaction point to the long side. Note that i am not putting it at the diagonal as many pros will get out of position before reaching Joe Public's ideal target.
Not saying it will be a final reversal but a 30-60 pips long reaction is a plausible hypothesis.
Sometimes price retests but the fundamental news regarding NZ was very significant and the market is showing it.
That being said I am putting a reaction point to the long side. Note that i am not putting it at the diagonal as many pros will get out of position before reaching Joe Public's ideal target.
Not saying it will be a final reversal but a 30-60 pips long reaction is a plausible hypothesis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.