NZD/CAD technically bearish, looking for another leg lower

NZD/CAD technically bearish, looking for another leg lower

Our technical Fibonacci’s projection at H1 chart for NZD/USD is calling for another leg lower, as the pair has been trading in a narrow range below the 200 SMA. Should the pair make a break of August 10th lows in order to continue with the bearish bias and it should also open the doors to test the next key target of 0.9159 (100% Fibo extension). Such move corresponds to a cycle’s duplication of August 10th.

RSI indicator remains in the oversold territory, aiming to a possible sideways consolidation before the leg lower mentioned above.



EUR/USD: euro going lower

Narrowing irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market are in the negative area and made the new lows.

EUR/USD inside a key support area

The EUR/USD pair was smashed during Friday’s session amid a strong USD across the board, helping to push the pair towards the Fibonacci zone of 65% at 1…


Morning brief for May 30

 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…

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