NZD/USD: a downtrend may resume

NZD/USD: a downtrend may resume

Recommendation:

SELL 0.6580

SL 0.6635

TP1 0.6480 TP2 0.6400 TP3 0.6370

On the daily chart, NZD/USD reached 224% target of junior AB=CD and bulls are trying to counterattack. Their goal is to push the pair above 0.6710 and return the pair inside the previous consolidation range of 0.6710-0.6850.

NZDUSD daily.png 

On H1, NZD/USD triggered a “Crab” pattern with a target at 88.6%. The odds of advance to it are lower than of a return to support at 0.6580. A decline below it will make the resumption of the downtrend more likely.

NZDUSD H1.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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