NZDJPY is Bullish - We look to Buy at 64.85
▪️ Short term momentum is bullish.
▪️ Bespoke support is located at 64.82.
▪️ The trend of higher lows is located at 64.82.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 64.85, resulting in...
This analysis was mainly based on the Wyckoff Theory and price actions, i've notced over the few weeks that the market has taken out alot of buy orders in need to make the next trend. Question is what will happen next ?
Break below 25.65 putting focus on the 25.40, (50%) Fibonacci retracement of the 2016-2017 rally.
An unexpected close above 25.65 will help to stabilise prices.
Bear signal from 26.15 intact.
Stop lowered to 25.71
The anticipated break lower has been seen, with EUR/USD extending the November bear trend to reach 1.0400.
Support is appearing at 1.0350, just above the 1.0330 year low of January 2003, as oversold momentum studies unwind, with a corrective bounce now highlighted as short-covering develops.
Congestion around 1.0600 is expected to attract, with a break opening...