still the same idea in mind

17 mar 2021

more info to come

17 mar 2021

Nota

Nzdusd; on the long term may expect move downward back to 0.68 zone, but before expecting move testing of the 0.75 and a distribution formation.
Idea remain the same as long as price stay upward the 0.71 area, and if we see a break upside p.73 on a SOS, then the next target zone would be 0.75. Demand has been in power for a year now, would expect a distribution and more test upward and a decrease of the long-term demand volume before seeing a move downward to 0.68. Which tell us again more reasons to believe that it is in fact a buy, and would hit again 0.75 zone.


Monthly;
In March 2020 price made a stop in action and a change of character, at the 0.55 area. Then price made a HH upside the 0.65 zone where it showed absorption of supply at the touch of it, and then heavy demand emerged and propulsed the price upward on a bullish engulfing candle that closed upside the 0.71 area.