Price action traders are enjoying their longs for NZDUSD as the price has hit all respective targets. More moves are on the way in the market as the Dollar is ready to push to 93.430.
Last Friday, price action traders witnessed a bullish daily closure for NZDUSD after the price reached support. This was enough confirmation for traders to enter long and carry the trade over the weekend. Yesterday, during the London session, the price was able to surge to the range high for a gain of +64 pips.
Despite a shaky Non-Farm Payroll release, the Dollar is set to push higher once again. The bulls were able to take the price back above 92.400 after bears took the price down to 92.000. Today’s daily closure will most likely be a hammer, which should hint at further upside. The next target is this year’s high at 93.430.
The crypto market is still looking fairly gloomy as bears continue to hold bears down. In comparison, the Forex and Commodities markets are showing several opportunities as the Dollar continues to thrive.
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- Read our previous blog article: Forex Major Longs as Dollar Looks to Revisit 92.00