NZD/USD: bears are in the fortress

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.

NZD1.png 

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.

NZD2.png

Similar

EUR/USD: euro may update highs

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.

eur

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera