Recommendation: BUY 0…
NZD/USD is gathering strength for takeoff
TP1 0.7295 TP2 0.7345 TP2 0.7395
On the daily chart, NZD/USD keeps correcting to the long-term uptrend as the “Shark” pattern is transforming into 5-0. Bulls retain hopes for return to 61.8% and 50% of the wave CD with the following recovery of the trend.
On H1, NZD/USD is forming the “widening wedge” pattern. Another test of resistance at 0.7205 will end the process. Success will allow bulls to count on a correction to the current short-term downtrend.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
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…