NZDUSD - Daily Timeframe Overview - Update
Following our previous daily analysis (www.tradingview.com/...ame-Buy-Opportunity/), we can now see that the pair has already had a small impulse to the upside, commencing an upwards correction fo some kind.
This might not be, however, the big correction we are expecting on this pair as yet. Bear in mind, in fact, that on the weekly and daily timeframe there are two running flat patterns, both uncompleted: a bigger flat with the A wave going from the 0.678 area to the 0.734 area and the B wave going from there to the lower low at 0.654 (weekly timeframe / in bright blue) and a smaller running flat with the A wave going from the 0.685 area to the 0.7064 area and a B wave going from there to the same low (daily timeframe / in yellow).
This double pattern in the making makes things slower in this pair because the smaller running flat, after it completes it’s C wave, if confirmed, will produce one lower low (finally completing the B wave of the bigger running flat), before going for the big upwards movement.
Nonetheless, on smaller timeframes, it is worth taking all buy setups on this pair, which will to the minimum have to complete the minor running flat (in yellow).
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
This might not be, however, the big correction we are expecting on this pair as yet. Bear in mind, in fact, that on the weekly and daily timeframe there are two running flat patterns, both uncompleted: a bigger flat with the A wave going from the 0.678 area to the 0.734 area and the B wave going from there to the lower low at 0.654 (weekly timeframe / in bright blue) and a smaller running flat with the A wave going from the 0.685 area to the 0.7064 area and a B wave going from there to the same low (daily timeframe / in yellow).
This double pattern in the making makes things slower in this pair because the smaller running flat, after it completes it’s C wave, if confirmed, will produce one lower low (finally completing the B wave of the bigger running flat), before going for the big upwards movement.
Nonetheless, on smaller timeframes, it is worth taking all buy setups on this pair, which will to the minimum have to complete the minor running flat (in yellow).
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.