The major trend line is broken now and dont miss this trade
As indicated on CCI a bullish divergence is seen on NZDUSD pair on the daily chart. We can buy this as per the indicated limits.
Reason : Upside momentum shifted over a week now with 3 touch. This in turn, to trigger short orders to take out people from next big upside leg (copy of 1st leg from 0.68~0.76). They may event this (upside 2nd leg) with some big news. Timeframe : short wave to reach trgt within 3 weeks then settle there to shape big upside second leg.
Reason : Another touch to 1.064 to be played, which ideally to be 2/3 wave format.At that spot short entry arises, a small south side direction movement upto 1.053. The larger trade would be complete reversal till 1.035 to start from there with lower lows.yet, more time correction first. Timeframe : Whole play to carry out early next week.
Reason : Continuation of trend to support level. Timeframe : Within a week.
Reason : Continuation of final leg as re-test of highs. Time-frame : Two days.
Reason : Extension of second wave as continuation of first one. TImeframe: Within a day.
Reason : Exhaustion of up move. Timeframe : By end of second week of September.
Reason : Continuation of send wave of prevailing first wave. TImeframe: early next week.