On the daily chart of NZD/USD, bears managed to take control over the situation and pull the pair towards the lower border of the upward channel due to the "Three Indians" pattern.
NZD/USD: bears are hunting a crab
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.
On H1, if NZD/USD gets out of the descending channel and trigger the “Crab” pattern, it may get to its 161.8%.
On the daily chart of AUD/USD, bears managed to move the pair out of the upward channel.
Concerns about the US-China trade tensions returned. Does the technical analysis offer a way to make money on this development?
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…