NZD/USD: a good chance for the NZD

NZD/USD: a good chance for the NZD

Recommendation:

BUY 0.6605

SL 0.655

TP1 0.6705 TP2 0.681 TP3 0.687

On the daily chart of NZD/USD,  bulls have been trying to pull the pair out of the downward channel to implement the “Shark” pattern. Its 88.6% target is at 0.682. To continue the rally, the pair needs to break above 0.652 (78.6% from the long-term upward wave).

nzdusd_d.png

On H1, a combination of “Three Indians” and 1-2-3 patterns increases risks of a downtrend’s reversal and an implementation of “Shark” and “Crab” patterns with 88.6% and 161.8% patterns.

nzdusd_60.png

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