Bullish target for NZD/USD
NZD/USD made a confident rebound during the recent two weeks.
EUR/JPY: bears pull back, but don’t give up
Recommendation:
BUY 131.80 SL 131.25 TP 132.80
SELL 130.50 SL 131.05 TP1 129.50 TP2 128.90
On the daily chart of EUR/JPY, the pair’s exit from the descending channel will create grounds for the “Shark” pattern. The necessary condition for further decline is the successful test of support at 130.50.
On H1, EUR/JPY keeps forming “Wolfe waves” pattern. Bulls are also trying to trigger the junior “Shark” pattern. If they succeed, the odds of advance to its 113% target and then to 78.6% and 88.6% targets of the senior “Shark” pattern will increase.
Ivan Karamazov
Similar
Levels to trade EUR/USD
Last week EUR/USD tested 1.1570 but then retraced down and closed below 1.15.
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Britain will release some economic data today. The forecast is positive. It’s possible to try to exploit this idea trading GBP/JPY.
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