Previous Week Update:
- Followed path A without the last kiss and reached out predicted target <3.
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- Previous 11.0
Monthly: We have a bullish engulfing forming after being rejected of the double top neckline. But maybe it could be a possible retest. Should wait for monthly close.
Weekly: Price around 0.70500 which is a strong resistance but the candle is looking very bullish with momentum. Looking as if we will continue higher to at least the previous trendline.
Daily: Breached 0.70500 after consolidating just under and at 0.68500 and 0.69500. Nice bullish break on the inside bars consolidation after the strong bullish move.
H4: Broke the ascending triangle from the previous week, formed a bullish flag and broke it upwards. We are in a new NZDUSD bullish move now.
NZDUSD Overall Analysis
- NZD has been strengthening because of the Retail Sales, Visitor Arrivals and GDT Index. And since USD has weakened this has allowed NZDUSD to sky rocket.
- We have formed continuous bullish formations and have broken it to propel further up. I will be waiting for a possible retest then to continue higher to 0.71500 if all goes to plan and NFP week stays nice and sweet.
- NFP week please stay nice so we follow Path A.
- I want a last kiss of the 0.70500 broken level then continuation to 0.71500 (100 standard pips to be easily covered if you look left. Just need to wait for confirmation but with the continuous bullish market structure I am sure it will.
- But again, its NFP week and anything is possible!