Daily Market Analysis

There’s a “Double Top”, so the price reached the 34 Moving Average. Therefore, bears are likely going to reach a support at 1.2477 – 1.2469.

The main trend is still bearish. There’s a “Double Top” pattern, so the price is still under the Moving Averages.

On the NZD/USD daily chart, quotes are moving within the downward trading channel…

AUD/USD reversed from support zone Next buy target - 0…

EUR/AUD reversed from combined resistance zone Next sell target - 1…

There’s a possible flat pattern in wave (ii). Previously, wave (i) has been formed, so the market is likely going to deliver wave (iii) in the short term.

We’ve got a “High Wave” and a “Doji”, so the pair is likely going to test the nearest resistance.

The 144 Moving Average has acted as a resistance, so there’re a “Tower” and an “Engulfing” patterns, which both have been confirmed.

The last “Wedge” has been broken, so the market is likely going to test the nearest resistance at 1.2595 – 1.2614.

Bulls went through the nearest support area, so we should keep an eye on the next resistance at 1.0698 – 1.0707.

NZD/CAD reached sell target 0…

AUD/CAD reached sell target 0…