NZD/USD: bears are hunting a crab

NZD/USD: bears are hunting a crab

2019-11-11 • Updated

Recommendation:

BUY 0.6935 SL 6880 TP1 0.7035 TP2 0.7070

SELL 0.6855 SL 0.6910 TP1 0.6755 TP2 0.6655 TP3 0.6600

On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD. If the pair rises to May high, the focus will shift to the interim target of 127.2% of the “Crab” pattern.

NZD1.png  

On H1, if NZD/USD gets out of the descending channel and trigger the “Crab” pattern, it may get to its 161.8%.

NZD2.png

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