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 is counting on AB=CD
2019-11-11 • Updated
TP1 0.6785 TP2 0.6815 TP3 0.691
On the daily chart, NZD/USD failed at the first test of the lower border of the 0.6710-0.685 consolidating range and the upper border of the downtrend channel. Never the less, bulls are still hoping to return the pair to the middle of the precious ledge and trigger “Shakeout-Fakeout” pattern.
On H1, to continue the rally NZD/USD has to trigger AB=CD pattern with a target at 200%. At the same time, the pair will keep forming the “Shark” pattern with a target at 88.6%.
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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