$NZDUSD Possible Long
Updated
NZDUSDWe have this pair at a year low, while trying to have all conditions to favour a Pullback buy, we advise you open a Pending Buy and wait for price to come to you. Trade war is a major catalyst for this pair ATM but we won't rule out technical support to open Buy orders.
Short term TP1/2 +30/+50 with extension of TP3 +100
Black horizontal lines on represent expected TP levels.
As shortterm traders we take multiple entries and exits in between.
Note
Keep alive no matter what, we will get the bounceNote
Order triggered but no follow through.So slowly grinding. NZDUSD has reached my initial SL Level.
Although mentioned Bull run may take awhile, I never anticipated we drop to this level. Its still a support level and below here we head to 0.6230.
My ADX is on Buy Signal but being on a higher TF it does take longer if positive driver for the favoured currency and NZD drivers is missing for long hence it wandered lost the far.
Another major is that my 1Day RSI refused to drop and has remained at current level for days even before my chart came up. Going by this, I'm not surprised seeing this low grinding.
Retail Sales is up with 0.2% consensus, with Jackson Hole Symposium coming, the former may do much if news is positive but will drop harder if negative.
With 0.6230 next leg in mind, I'm still Buying every lower price consolidations levels.
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.