Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
EUR/USD: euro got the initiative
BUY 1.1630 SL 1.1575 TP1 1.1730 TP2 1.1780 TP3 1.1850
BUY 1.1500 SL 1.1445 TP1 1.1600 TP2 1.1730 TP3 1.1780
On the daily chart, EUR/USD bulls are ready to trigger “Shakeout-Fakeout” pattern. To do that, they need to conquer resistance at 1.1630 (the middle of 1.1510-1.1780) channel and lead the pair outside of the downtrend channel.
On H1, the “Shark” pattern is transforming into 5-0. Pullbacks towards 23.6%, 38.2% and 50% are usually used for forming long positions. Return to the uptrend is possible on the break of resistance at 78.6% and 88.6% of the wave CD.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.
There are many things happening in the UK. What is the strategic outlook for the GBP?
The Australian dollar set a strong upward trend over a month. Will AUD loose its gains soon?