EUR/USD reversed from support zone Next buy target - 1…
NZD/JPY rising inside minor impulse wave 3
- NZD/JPY rising inside minor impulse wave 3
- Next buy target - 81.60
NZD/JPY continues to rise inside the minor impulse wave 3, which started earlier from the combined support area lying between the support level 79.20 (which reversed the price in the middle of September) and the lower daily Bollinger Band. The active impulse wave 3 belongs to the intermediate impulse wave (3) from last month. NZD/JPY is expected to rise to the next buy target at the next resistance level 81.60 (top of the (b)-wave of the previous ABC correction 2).
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.