Is the blue support level going to hold? If it is, we'll probably see the continuation of the rangebound price action until price hits the upper boundaries of the dark red channel, (rather than a breakout to the upside). If it isn't, I'd expect a decline that would be commensurate to the size of the recent horizontal range - and this is the option I find more probable. The CAD is in my opinion the strongest currency now and it's gaining momentum, whereas the NZD, though strong, can't get much bullish traction after the NFP.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice.
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