Last week NZD/USD made a significant thrust to the downside.
NZD/USD: bears are in the fortress
Recommendation: SELL 0.7145 SL 0.72 TP 0.698
On the daily chart, NZD/USD formed AB=CD pattern with a target at 127.2%. The pair failed to reach 78.6% of the Gartley pattern. This gives bears hope for a resumption of the downtrend. Their main task is not to let bears get above 0.7190 and 0.7780.
On H1, further dynamics of the pair will depend on bears’ ability to return the pair below support at 0.7145. If they manage to do this, chances for a resumption of the downtrend will increase.
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…