The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
NZD/USD: bears found a shark
TP1 0.715 TP2 0.7105
On H1, the inability of the bulls to lead the pair outside of the descending channel and formation of the bar with the long upper wick points at buyers’ weakness. Realization of the inverted 5-0 pattern is delayed.
On H1, NZD/USD reached the targets if the “Widening wedge”, “Three Indians” and 1-2-3. If the pair renews correction low with the following decline below the lower border of an uptrend channel, risks of reaching 88.6% target of a Shark pattern will increase.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
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...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...