Technical analysis of NZD/CHF
EUR/USD: 'Inverted Hammer' on the 'Window'
There's an 'Inverted Hammer', but confirmation of this pattern isn't enough. So, after a short break, the market is likely going to achieve the lower 'Window', which could be a starting point for a bullish correction.
The price is consolidating under the 34 Moving Average. Because of the last 'Tweezers' pattern, the pair is likely going to test the 55 MA in the coming hours. If we have a pullback from this line little later on, there'll be a green light to have another decline.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.