NZDUSD: Breakout Will Show The Next Direction

NZDUSD broke out of the pattern area and while it is trying to maintain the upward momentum, the price also started to accumulate more before moving further.

So far, NZDUSD is forming an ascending triangle and it looks like it can bounce out of this area.

However, the next move is related to the US non-farm payrolls data tomorrow. It will be a very high-risk move considering that it is data-related and not a normal technical move.

Market participants are expecting NFP to reach 80k vs. 57k last month.

So, despite NZDUSD has a bullish setup, I think it is better to also focus on the downward movement and the direction that the price will create a breakout.

You can find more details on the chart.
Thank you! 🍀

⚠️PS: Do your own analysis and use your own strategy to join the trade.
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