Technical analysis of EURNZD
EUR/USD: bulls going to deliver wave 5
There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should keep an eye on 8/8 MM Level as an intraday target.
2/8 MM Level acted as support, so the triangle may have been ended. Therefore, we're likely going to have an upward impulse in wave [i] in the coming hours. If another pullback from 5/8 MM Level arrives later on, there'll be an opportunity to have a local bearish correction.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
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