EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
EUR/NZD rising inside intermediate impulse wave (3)
- EUR/NZD rising inside intermediate impulse wave (3)
- Next buy target - 1.5700
EUR/NZD continues to rise inside the intermediate impulse wave (3) – which started earlier from the support area lying between the key support level 1.5100, lower daily Bollinger Band, 38.2% Fibonacci correction of the sharp upward impulse (1) from February and the 50-day simple moving average. The price earlier broke the daily down channel from March – which accelerated the active impulse wave (3).
EUR/NZD is expected to rise to the next buy target at the key resistance level 1.5700 (which reversed the price in last October, as can be seen from the daily EUR/NZD chart below).
Dmitry Chernovolov
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