NZDUSD
From the weekly point of views, the price did an overextended move to the upside, expect a deeper pullback to the potential weekly support and complete the formation of the big W pattern. From the daily point of views, we can clearly see that the daily demand area is correlated with the potential weekly support, so a deeper retracement is expected from both daily and weekly timeframe.
From the hedge funds' point of view, they are bearish bias on NZD on the longer-term perspectives. In today new report, not any proper long and proper short, added 800 long and closed 800 short.
The proper way to approaching this pair is to wait for the retest on the recent structure, then we only can look for the short opportunity inside this structure area.
The result might not follow my analysis, and this analysis is based on the technical and COT perspective.
Comment below let me know your views on NZDUSD.
From the hedge funds' point of view, they are bearish bias on NZD on the longer-term perspectives. In today new report, not any proper long and proper short, added 800 long and closed 800 short.
The proper way to approaching this pair is to wait for the retest on the recent structure, then we only can look for the short opportunity inside this structure area.
The result might not follow my analysis, and this analysis is based on the technical and COT perspective.
Comment below let me know your views on NZDUSD.
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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.
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.