NZD marking the lows of the year as anticipated...
This impulsive move is making its way through resistance like a knife and butter, the break implies that we are finally ready to start trading above 0.700x again as widely mentioned in previous ideas.
After building a solid base we are entering in the 3rd wave of a 5-wave advance towards 0.703x. The minimum target for this 3rd wave is 0.681x, naturally this is dependent on the market holding above the recent break. Those holding for the 5 waves will be able to comfortable target 0.702/3x with the momentum.
To put simply, the break has unlocked the highs and is a great opportunity for those wanting to play the USD devaluation flows. Reassessment of the view will only be needed if we print below 0.665x.
Best of luck all those enjoying the ride here.
After building a solid base we are entering in the 3rd wave of a 5-wave advance towards 0.703x. The minimum target for this 3rd wave is 0.681x, naturally this is dependent on the market holding above the recent break. Those holding for the 5 waves will be able to comfortable target 0.702/3x with the momentum.
To put simply, the break has unlocked the highs and is a great opportunity for those wanting to play the USD devaluation flows. Reassessment of the view will only be needed if we print below 0.665x.
Best of luck all those enjoying the ride here.
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