This is my current analysis for NZDJPY. Overall bias is bullish, while price is gaining support at a major exhaustion zone, the bearish candle stick that can be seen to the left is just an impulsive move due to the timing of it's occurence.
I am currently looking for buys on AUDCAD. Price previously created a higher Higher which then retraced back to our 61.80 percent level on our fibs. This AOI is also an exhaustion zone which increases the probability of our setup.
I'm currently looking for short term sells for price to make a correction and fill the inefficiency. After that is completed, I'll be looking for Long term buys targeting the 19,233.9 level and afterwards I'll be targeting -27.0 percent level on the fibs.
And stated before in my previous post. This is my idea behind the direction of nasdaq for the next few days. I will be maintaining a bullish bias with an open mind to take advantage of short term sells to fill the inefficiency.
