AUD/NZD - Sideways to Bullish
Dear all,
This is my personal opinion.
The COT report for 13 July 2021 mentioned that Institutional added Short Contract more than Long Contract in AUD (Bearish Sentiment) while it added as well Short Contract and also close Long Contract (Bearish Sentiment as well) for NZD. With both have bearish sentiment, I look to Non-Reportable Positions where there are more short contracts on the AUD side. Because many must lose for a few to triumph, this pair may be, I expect to have an upward tendency to create an inverse H&S pattern while RSI already has made W pattern, and if it keeps bullish, this price can hit TP2.
Cheers,
Khres
This is my personal opinion.
The COT report for 13 July 2021 mentioned that Institutional added Short Contract more than Long Contract in AUD (Bearish Sentiment) while it added as well Short Contract and also close Long Contract (Bearish Sentiment as well) for NZD. With both have bearish sentiment, I look to Non-Reportable Positions where there are more short contracts on the AUD side. Because many must lose for a few to triumph, this pair may be, I expect to have an upward tendency to create an inverse H&S pattern while RSI already has made W pattern, and if it keeps bullish, this price can hit TP2.
Cheers,
Khres
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