On the weekly chart, it appears that a symmetrical triangle wedge is forming. Eventually, a breakout will occur once price has funneled towards the corner of the wedge, which will most likely start a new, strong trend in either direction.
Until then, I will keep watching for setups that can occur within the wedge and currently, I feel we might see a bullish bounce for the Kiwi dollar from our current price zone.
Until then, I will keep watching for setups that can occur within the wedge and currently, I feel we might see a bullish bounce for the Kiwi dollar from our current price zone.
Trade active
Market is giving signs that it might finally be developing an appetite for risk. I'm still bullish on commodities here.
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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.