The beginning of the month was quite eventful for the Turkish lira. However, this week it started to lose its volatility. What is happening?
AUD/NZD rising inside minor impulse wave 3
- AUD/NZD rising inside minor impulse wave 3
- Next buy target - 1.1020
AUD/NZD continues to rise inside the minor impulse wave 3 - which started earlier from the support zone lying between the support level 1.0820 and the 50% Fibonacci retracement of the previous sharp upward impulse wave (v) from the end of February. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star.
AUD/NZD expected to rise to the next sell buy at the resistance level 1.1020 (which stopped the previous minor impulse wave 1 earlier this month).
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...