EUR/NZD falling inside impulse wave ③

EUR/NZD falling inside impulse wave ③

  • EUR/NZD falling inside impulse wave ③
  • Next sell target - 1.6500

EUR/NZD has been falling in the last few trading sessions inside the primary downward impulse wave ③ - which started earlier - when the pair reversed down with the weekly Shooting Star from the combined resistance zone lying between the resistance levels 1.7000 (previous buy target) and 1.7190, upper weekly Bollinger Band and the resistance trendline of the weekly up channel from January. EUR/USD is expected to fall further toward the next sell target at the next support level 1.6500.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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