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New buy limit NZD/USD | Nov 01, 2019

Fundamental: Besides the NFP fundamentals I wrote earlier, weaker than forecast ISM Manufacturing PMI weakened USD; and NZD/USD already hit minor target 0.64523 that was abcd61.8 (view abcd61.8 in previous NZD/USD-post).

Technical at daily/D1 time-frame: Technical analysis for the pair is still same as I wrote earlier and we can target ABCD 161.8 (major target). It is not overbought yet, so there is enough room for it to go to the major target. But we should wait for a minor downward retracement for better entry price.

At H1 time-frame: I have placed buy limit at 30% retracement (+spread) of recent swing made on H1 after FOMC. If we compare the SL with target, we have almost 1:2::risk:reward.


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