FBS - Analytics


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    NZD/USD: buy target - 0.7000

    • NZD/USD broke pivotal resistance level 0.6860
    • Next buy target - 0.7000

    NZD/USD recently broke above the pivotal resistance level 0.6860 (which had stopped previous waves 3, (ii), (A) and (i), as can be seen from the daily NZD/USD chart below). The breakout of this resistance level accelerated the active minor impulse waves (iii) and 3 – which belong to the intermediate (C)-wave from the middle of January.

    NZD/USD is likely to rise further in the active impulse waves 3 and (C) toward the next buy target at the round resistance level 0.7000. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the aforementioned price level 0.6860.

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