USD/JPY: 'Morning Star' pattern
The pair is going to test the upper 'Window' shortly. A pullback from this level could be a starting point for another decline...
NZD/USD: kiwi found a place for breakfast
Registration:
BUY 0.7000
SL 0.6945
TP 0.7105
On the daily chart, NZD/USD is consolidating between 0.6820-0.7000 (October low and the lower border of the uptrend trade channel). A break of resistance at 0.7000 will return bulls’ hope for resuming the uptrend. On the other hand, successful test of support at 0.6820 will increase the risks of going to 127.2% and 161.8% targets of “Crab” pattern
On H1, aggressive market entries imply getting in on the break of the 0.6905-0.6990 range. According to the conservative approach, it’s necessary to wait for a break of a wider trading range 0.6820-0.7000.
Ivan Karamazov
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