There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/NZD broke resistance zone
- EUR/NZD broke resistance zone
- Next buy target - 1.7250
EUR/NZD recently broke through the resistance zone lying between the resistance level 1.6960 and the 61.8% Fibonacci correction of the previous intermediate ABC correction (2) from the middle of May. The breakout of this resistance zone accelerated the active intermediate impulse wave (3). EUR/NZD is expected to rise further toward the next buy target at the next resistance level 1.7250 (top of the previous impulse wave (1)).
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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