EUR/NZD falling inside the corrective wave (iv)

EUR/NZD falling inside the corrective wave (iv)

  • EUR/NZD falling inside the corrective wave (iv)
  • Next sell target - 1.6200

EUR/NZD continues to fall inside the minor corrective wave (iv) – which started earlier from the resistance zone lying between the key resistance level 1.6700 (which reversed the price with the daily Shooting Star at the start of September) and the upper daily Bollinger Band. The latest daily reversal from the resistance level 1.6700 created the daily Japanese candlesticks reversal pattern Evening Star Doji. EUR/NZD is expected to fall to the next sell target at the next support level 1.6200.


GBP/USD: bullish "Flag"

The pair is going to continue moving up in the direction of another resistance at 1.4144 - 1.4277...



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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