EUR/JPY broke key support level 131…
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.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.