The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”.
NZD/CHF: trade ideas
SELL 0.6500; TP 0.6450; SL 0.6515
BUY 0.6535; TP1 0.6555; TP2 0,6580; SL 0.6420
The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode. NZD/CHF looks better for trading. It came close to the key support in the 0.6505 area (January low). A decline below this level will open the way down to 0.6450 (78.6% Fibo of the 2018 advance).
If the support holds and NZD/CHF recovers above 0.6530, it will get a chance to retest 0.6550 and maybe 0.6585 (the top of the 3-week trading range).
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
The key question about Brexit now is whether there will a deal between Britain and the European Union or the parties end up without a one.