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NZDUSD: Watch for This Consolidation to End
The last time I wrote about NZDUSD was April 21st. That was the first time I discussed the potential for a 2,000 pip drop. Let’s just say my view wasn’t all that popular with some people. But here we are eleven trading days later, and the NZDUSD is up 40 pips. To some, a 40 pip gain may sound like a lot. However, when you compare it to the 900 pip plunge in March that took just eight days, the latest correction is found wanting. So, I’ll go ahead and revise my view from April and say there is now a 2,100 pip opportunity unfolding. Could I be wrong? Of course, but even if you compare the angle of this latest ... (full story)
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