nzdusd is currently in consolidation after brexit. Friday close a huge pinbar and with the impulse up its been having I wouldn't be surprised if prices continue to rise. we are bouncing off the weekly channel support and breaking through the daily channel resistance. price did a strong break of the daily channel and had a strong retest but Friday ended off as a big pinbar so that just gives me the direction of the market. the yellow box is the consolidation zone, a breakout and retest of this zone can give us the direction in which the market wants to go. the gray dotted is wherei I expect markets to continue bull if they reach that price. the blue dotted are where I expect prices to reach after.
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yesterday we had a bearish break of the neutral zone and we are currently going in for a retest. london will be interesting
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neutral zone held as support
David K Giraldo