NZDUSD Potential Long into 0.71250 (extended target)
Top-down analysis
Monthly - Previous monthly candlestick closure, Doji candlestick ( Potential ranging inside the doji)
Weekly - Previous weekly candlestick closure, Long wick closure upside and also not correlated in Daily timeframe
Daily - Made a higher high and a momentum
( but not a great momentum due to weekly candlestick closure)
Potential movement next week might be going lower a big to get some liquidity to continue upside farther.
Confluences for Upside movement;
a. FIB 78.6%
b. Minor key level
c. Daily market structure
Monthly - Previous monthly candlestick closure, Doji candlestick ( Potential ranging inside the doji)
Weekly - Previous weekly candlestick closure, Long wick closure upside and also not correlated in Daily timeframe
Daily - Made a higher high and a momentum
( but not a great momentum due to weekly candlestick closure)
Potential movement next week might be going lower a big to get some liquidity to continue upside farther.
Confluences for Upside movement;
a. FIB 78.6%
b. Minor key level
c. Daily market structure