Comparable to the AUDUSD I expect the NZDUSD to show more bullish price action as well the coming weeks. My targetzone will be 0.73. Buying after minor consolidations is what I'll be looking for. Price is closing in on previous highs which might give resistance for a consolidation. This will be the possible set-up for a buy continuation trade.
The NZDUSD had a hard time after the RBNZ rate decision just after my original post, but it needs to complete its structure which will target 0.72. Therefore I'll be looking for lower time frame consolidations to buy the continuation. I showed an example in the chart of what I like to see, I won't chase trades and will wait until they unfold the way I like to trade them. Updates will follow.
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Although it only retraced 23.6% and not towards my ideal reversal zone, the trade got triggered. However I manage this ,comparable to NZDJPY, closely in case it comes back and decides to test my ideal reversal zone after all. New high is minimum but 0.72 main target of structure of larger degree.
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newbie2016
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I totally agree with you.. because we are about to get Golden Cross on Daily chart in nzdusd.. but we dont see that in audusd... my targets in nzdusd are more high.. i am expecting 77 and possible high as well...