Bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; but the market is overbought and under the strong resistance of 0.8000.
NZD / USD: Kiwi sets new targets
Recommendation: BUY 0,7297 SL 0,7242 TP 0,7445.
On the NZD/USD daily chart, the correction has finished at the level 23,5% of the CD wave of the Shark patter. This is a signal of the bulls’ strength. If they manage to update June high, the target 88,6% will be no longer relevant; there will be another target 113%.
On the NZD/USD hourly chart, the quotes went beyond the limits of the triangle. New Zealand dollar tested the upper border of the consolidation in the Splash and ledge pattern on the basis of 1-2-3. Then, there was a rollback. Another test of the resistance at 0.7297 will increase the risks for the continuation of the rally.
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.
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