The price is testing 7/8 MM Level, which previously has acted as a resistance. So, wave (iii) is likely going to end soon.
Daily Market Analysis
There’s a strong support by the lower “Window”. However, we’ve got a “Tweezers” and an “Engulfing” patterns.
The 55 Moving Average has acted as a support, so the price is rising. At the same time, we’ve got an “Evening Star”.
The last “Pennant” pattern led to a new high. So, the market is likely going to test the nearest resistance at 1.2945 – 1.2995.
There’s a possible “Triple Top” pattern, so the market is likely going to decline towards the nearest support at 1.0819 – 1.0729.
NZD/USD broke major support level 0…
GBP/NZD rising inside sharp C-wave Next buy target - 1…
The lower “Window” has acted as a support, but the last bearish “Engulfing” pattern is still on the table.
The market is likely going to test the nearest “Window”, which could act as a support.
Wave (iii) has been ended on 7/8 MM Level, so it’s time for correction.
On the EUR/JPYdaily chart, after reaching 161…
Considering the last “V-Top” pattern, the market is likely going to reach the nearest support at 1.2726.