EUR/USD reversed from support zone Next buy target - 1…
NZD/CAD reversed from support area
- NZD/CAD reversed from support area
- Next buy target - 0.9350
NZD/CAD continues to rise inside the minor impulse wave 3, which recently reversed up from the support area lying between the pivotal support level 0.9200 (former resistance level from the start of February) and 38.2% Fibonacci correction of the previous sharp upward impulse from the end of January. NZD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9350 (top of the previous minor impulse wave (iii)).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.