Technical analysis of NZD/CHF
EUR/USD: pullback from 1/8 MM Level
We've got a pullback from 1/8 MM Level, so wave [a] has been ended. However, wave 4 is likely going to be continued. So, if a pullback from 2/8 MM Level happens afterwards, we could have another bearish impulse in wave [c] of 4.
There's a bearish impulse in wave [a]. Also, bulls delivered a small bullish impulse in wave (a), so wave [b] is likely going to take the form of a zigzag. The main intraday target is 4/8 MM Level, which could be a departure point for wave [c] of 4.
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.