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!
NZD/USD: kiwi caught a crab
2019-11-11 • Updated
On the daily chart, NZD/USD broke below the diagonal support and went outside of the uptrend channel. As a result, the odds of reaching 127.2% and 161.8% targets of “Crab” pattern will increase.
On H1, NZD/USD keeps forming the inverted pattern “Spike and reversal with acceleration”. As long as the pair hasn’t risen above 0.7050, bears will keep the situation under control. Formation of the “Head and shoulders” pattern will allow a short-term correction.
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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!