[NZDUSD] EW ANALYSIS

On daily chart the trend is still bearish, and sincerely, we expected a completion of the bearish impulsive structure slightly low (wave 5 around 0.6470/0.6450). At the same time we do not exclude that what we see on EW chart, wave 5 completed, it could be corrected, so if our analysis is correct, the pair should work the trendline (resistance) in the short term, and reach our TARGET 1 around 0.6860 (see our bullish setup on chart below) in the medium term. In conclusion, we want to consider this rally as a technical rebound, so our work will be focused on resistance (looking at the daily chart) and on the supports (looking at intraday chart).

OUR BULLISH SETUP ON INTRADAY CHART
(Click and Play on chart below)

OUR STRATEGY IN PLAY: move stop loss to breakeven.

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