A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.
NZD/USD: bulls are counterattacking
TP1 0.7335 TP2 0.7395 TP3 0.7475
On the daily chart of NZD/USD, the third attempt of bears to conquer an important support at 0.7185 failed. It points at the weakness of sellers. The necessary conditions for uptrend’s resumption are a successful test of resistance at 0.7265 and the pair’s exit from the short-term descending channel.
On H1, a break of resistance at 0.7280 will increase the risks of “Head and shoulders” and “Shark” patterns. Target at 88.6% of the latter is near 0.7335.
Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…