A rare pattern but not out of the question. 5th impulse wave could truncate and we could see a "black swan event" It still looks like it could go further north however meeting a tp of .89500
Cannot wait to see how this plays out.
Goldman Sachs CEO Lloyd Blankfein says “given enough time, very low probability events not only can happen, but they absolutely will happen”.
I'm calling it on this swing. Reversal is near. Strong Bullish Divergence? Fundamentals are some what questionable with NZD itself however the good ole swiss franc should be weakening this year. We Have some upcoming economic events next week for NZD.
Balance of Trade
Import
Export
After, we should see some retail data and such be released for the swiss....
It's sitting at 144.70 but no momentum. Is it simply market indecision or good ole supply and demand complacency on value. I believe we will see 137 sometime in the near future. Will it be tomorrow or next week. I'm not to sure.
It appears gbpusd will want to retry the 1.13 area for a support before continuing up. I also believe this will be a local support on a higher time frame. Clear sign of reversal on the first yellow circle and previous candle near this level showing a strong push down in the second circle. I could be wrong just speculation and an idea.
Just speculation. It could be a simple retracement or form a rising three method pattern. Either way the rsi looks like consolidation waiting for a breakout to the upside as were at a major price point.
