NZD/USD: bears found a shark

NZD/USD: bears found a shark

Recommendation:

SELL 0.7225

SL 0.728

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.

NZD1.png

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.

NZD2.png

nzd

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