Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
NZD/USD: bulls counterattack
2019-11-11 • Updated
SELL 0.688 SL 0.6935 TP1 0.678 TP2 0.67 TP2 0.665
BUY 0.696 SL 0.6905 TP1 0.706 TP2 0.7115 TP3 0.718
On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control. To begin with, buyers need a successful test of resistance at 0.696 (upper border of a downtrend channel + 23.6% Fibo correction).
On H1, NZD/USD is forming “Three Indians” during a correction. A decline below supports at 0.6890 and 0.6880 will increase the risks of a downtrend’s resumption.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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