NZD/USD: bulls prepare a strike

NZD/USD: bulls prepare a strike

Recommendation:

BUY 0.7335 SL 0.7280 TP1 0.7435 TP2 0.7530

On the daily chart, NZD/USD keeps retracing in line with the transformation of the “Shark” pattern to 5-0. Return of the pair to resistance at 0.7386 (23.6% of the wave CD) and its following successful test will increase the odds of the uptrend’s resumption.

NZD1.png

On H1, bulls are ready to launch a third attack on 0.7334. Their success will trigger the “Shark” pattern and increase the odds of reaching 88.6% target. We don’t exclude the possibility of an inverted “Head and Shoulders” pattern.

NZD2.png

nzd

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