High timeframe triangle wedge for NZDUSD

On the weekly chart, it appears that a symmetrical triangle wedge is forming. Eventually, a breakout will occur once price has funneled towards the corner of the wedge, which will most likely start a new, strong trend in either direction.

Until then, I will keep watching for setups that can occur within the wedge and currently, I feel we might see a bullish bounce for the Kiwi dollar from our current price zone.

Trade active:

Market is giving signs that it might finally be developing an appetite for risk. I'm still bullish on commodities here.