NZDUSD, bullish push to 0.70700

NU has finally reached the first D extension which is identified in my analysis. I am expecting another 30-40 pip drop since tweezer tops have been formed on the daily time frame. 0.6800 is also a major monthly level, matches last higher high created, and is also in confluence with my lower TL.

I will buy once it touches the lower TL for the 3rd time, or bounces off of previous higher high zone. TP will be 0.70700 since it matches my key weekly level, is the second D extension, and is also in confluence with my upper TL that has created a bullish channel on the 4H time frame.

Kommentera:

Looked at overall daily uptrend, but failed to realize an "M" pattern was forming.