In the current market scenario, the #NZDUSD pair appears to be following a wave 4 pattern, indicating a continuation phase in its price movement. This pattern often suggests a temporary pause or correction before the prevailing trend resumes. The recent emergence of a fresh BUY signal on the ADVANCED PRO CHARTS further supports this notion, hinting at a potential bullish momentum in the near future.
With the confirmed target set at .6406 or potentially even higher, traders and investors may find this an opportune moment to consider long positions in anticipation of a price increase. However, it is worth noting that caution is advised, especially in light of the upcoming Non-Farm Payrolls (NFP) data release. The NFP data is a key economic indicator that has the potential to significantly impact the forex market, leading to heightened volatility and unexpected price movements.
Therefore, it is recommended to exercise patience and wait for the NFP data to be released before making any significant trading decisions. By incorporating this fundamental analysis alongside the technical signals provided by the ADVANCED PRO CHARTS, traders can better position themselves to navigate the market dynamics and capitalize on potential trading opportunities in the NZDUSD pair.
Good trading.
Chris
Head Coach & Trader for over 30 years
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