Last week NZD/USD made a significant thrust to the downside.
EUR/USD needs correction
Recommendation: SELL 1.169 SL 1.1745 TP 1.1530
On the daily chart, there are patterns 1-2-3 and “Spike and reversal with acceleration”. The break of a trendline will increase the risks of correction towards the lower border of the trend channel. For the uptrend to resume, buyers need to conquer resistance at 1.1845 and then renew August high.
On H1, EUR/USD is forming a “Widening wedge” pattern. Break of support at 1.1690 will strengthen the risks of recoil towards 1.1500-1.1530. However, at first bears need to pull the pair below support at 1.1625-1.1650.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…