Technical analysis of NZD/CHF
EUR/USD reached buy target 1.1700
- EUR/USD reached buy target 1.1700
- Next buy target - 1.1800
EUR/USD recently reached the resistance level 1.1700 (which was set as the buy target in our earlier forecast for this currency pair). The price earlier reversed up from the key support level 1.1500 – which stated the active minor impulse wave (v) – which belongs to the impulse wave 5 from the middle of June. With the accelerating daily Momentum - EUR/USD is expected to rise further to the next buy target at the next resistance level 1.1800 (forecast price calculated for the completion of the active impulse wave 5).
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.