NZDUSD - Long Setup 4hr

28 Eyl 2020

Coming out of a previous risk off week, profit-taking has been completed. Moving forward, the weakness of the US dollar can seek to continue surrounding the increasing US lockdowns, increasing number of Covid-19 cases across US states, uncertainty involving the Trump-Biden election outcome, a lull over the much expected stimulus package & impatience for a Vaccine. Riskier currencies can be EXPECTED to rise in the midst of it all. NZDUSD is consolidating between two levels of major S/R from Sunday's open. A POSSIBLE break & retest above can confirm a Bullish HH, HL bias, supported by US Dollar weakness & an ascending trendline.