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NZDCAD - possible wildcardhi everyone - haven't posted in a while but im back on the charts! looking over the pairs NZDCAD has caught my eye, after breaking an ascending structure on the daily sitting nicely in the amber zone. price shows a clear 'scoop' (double top) with an element of structure that can be seen approaching the value area on the 4H. i am looking for an entry in the green zone on the lower degree next week if price is to form an element of structure, given the price action previously and the aggressive sell off, i will be inclined to take a RE in this area. if anything else is to form, confirmation and a lower time frame continuation pattern will do just nicely! dont sleep on this one! have a good week everyone! Connor
Short
by connorfx96
DXY building in strength heading into final stages of this week.The Buck repelled more downside pressure and seems braced for another boost from the Fed via the account of June’s policy meeting that was hawkish in terms of the median dot plots projecting earlier tightening and two 25 bp hikes by the end of next year, while the much vaunted talk about when to discuss tapering occurred and it’s now a question of making the distinction between further and substantial progress towards twin remits before starting to scale back QE. Looking at the DXY, Tuesday’s rebound high was surpassed on the way to eclipsing last Friday’s best and the peak from April 6, at 92.844 vs 92.790 after a relatively shallow sub-92.500 retracement to 92.421, leaving 95.000 as the next upside target for psychological purposes after 93.113 from April 5 earlier this year.
TVC:DXYLong
by FTUKcom
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