After the delirious slump recently, Friday’s NFP figures seem to be handing us another good opportunity to dig in and hit some cash. Only this time, the favor rests with the bulls!
With Daily and H4 charts notably posting shouting rejection pin bars, I have a powerful reason to think long going forward. The h4 a 200 pip range that has developed over time. With the recent daily pin, I am looking at an eventual bullish break as the extreme anxiety and uncertainty that have bedevilled most usd crosses seem to be waning. Latest NFP figures would seem to provide reasons to be long the pair at th is time with a break above the stated range a clear indication that we should see some relief going forward.
I plan to use the fib levels in dealing with this set up. After a parabolic move as we have seen recently, we should expect at least a 50% retracement. I should be going for that.
Status: 88% confirmed
Strength: 95%
Verdict: Bullish
Good luck if you are joining in
I predict it will range for a bit at best because I believe that the NZD is going to lose value. I had bullish positions triggered today on 4 or 5 different NZD pairs. I doubt the NZD is going to be making huge gains vs the USD anyway right now. Just my opinion though, good luck.
I agree with you, but I’ll probably wait for the NZD/USD retracement to be over then I’ll just jump in short.
Yeah price seems to be pulling back a little bit, I have a stop loss for my sell and a buy stop set at 0.8078 with a take profit at 0.8109. I think price may go up for a bit and stay in this channel, it’s tough to say though.