AUD/NZD: is it time for a correction?
AUD/NZD experienced an impressive rally since the end of March.
EUR/USD is looking for a hint
Recommendation:
SELL 1.1705 SL 1.1760 TP1 1.1625 TP2 1.1530
BUY 1.1825 SL 1.1770 TP 1.1925
On the daily chart, bulls are trying to return the pair inside the uptrend channel at the phase of the “Spike and reversal with acceleration”. If they succeed. The odds of the uptrend’s resumption will increase. On the other hand, failure will allow bears to continue correction.
On H1, EUR/USD finished forming the “widening wedge”. Return of the quotes to 23.6% of the wave 4-5 will be a reason for short positions. On the other hand, growth to $1.1825 will allow opening longs.
Ivan Karamazov
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