NZD/USD - Bullish Push via Break of Structure

6 May 2021

What Is The Market Telling Us?

• Sell side liquidty taken from stop hunt, giving off a false bias of downward movement
  
• There is a continuous break of market structure (BMS) in current trend
  
• Previous daily high has been violated with
  

What Are Market Participants Doing?

• Within the last 24hrs of this post, there has been a +23% jump in NZD long positions from banks
  
• The retail traders are losing as 68% of retail traders are shorting this pair, looking for a top within the uptrend
  
• COT Data reports a +2000 lots added into NZD currency from 38,435 to 40,632
  

6 May 2021

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