NZDUSD analysis

28 mai 2016

Last week I published a chart detailing a potential flat corrective structure on this pair that would eventually lead price downward. Since then, structure has changed and price action is likely to deviate from the original forecast. Price did not retrace upward to finish the C wave to set up a big move down and instead created a squeeze down. This is evident of a typical ending or leading diagonal structure which WILL produce an upward movement. This will allow us an opportunity to buy this pair up for some nice quick profit before another drop down. I'll be watching PA at the bottom of the structure for potential long opportunity.