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Forex100

Looking to short NZDJPY on ABCD patternNew Zealand new Prime Minister Labour Party Ardern is implementing new policies such as reducing immigrants can affect the economic growth. Also lack of details in RBNZ cause uncertainty about future monetary policy outlook. So I am bearish on NZD From the chart, market is actually moving side way (200ema is flat). However, since the election, NZD has dropped significantly and price is below 200ema. There is a downward bounce (ABCD) formation. I am looking for pullback and short at previous low. Reward to risk for this analysis is 5 : 1
Short
by hzs
Looking to short NZDUSD at Fibonacci Retracement 61.8Powell as the next Fed Chair seem to result is some pullback in the market. However, my sentiment is that dollar will appreciate in the long-term under his lead as there will still be gradual rate hike and reduction in balance sheet. U.S. economy is starting to pick up also. Nevertheless, today there is NFP data release which will show whether the employment in U.S continuous to improvement. Looking to short if price did not break and close above 200ema and 61.8. Reward to risk for this analysis is 8:1
Short
by hzs