NZD/USD: bears return to the game
Read the article on FBS website
Recommendation:
SELL 0.728 SL 0.7335
TP 0.719 TP2 0.7105
TP3 0.705
On the daily chart, the inability of bulls to push the pair above the resistance level at 0.7280 was a signal of their weakness. In case of a break of the lower border of the short-term trend channel, bears will have a chance to form an AB=CD pattern.
On H1, NZD/USD there are pattern “Head and Shoulders” and “Shark”. Further dynamics of the pair will depend on bulls’ ability to keep the pair above support at 0.7185-0.7205. If they fail, triggering of the “Widening wedge” pattern will allow bears to continue correction.
