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: kiwi is gaining its strength
2019-11-11 • Updated
Recommendation: BUY 0,695 SL 0,6895 TP 0,708.
On the NZD/USD daily chart, bulls managed to return quotes to the upper boundary of the downward trading channel and to the lower boundary of the previously formed triangle. If the resistance is tested successfully, activation of the inverted Shark pattern will increase the risks of implementation of target 113%. The convergence zone is located within 0.707-0.7085 levels.
On the NZD/USD hourly chart, the Wolff Waves pattern is in the process of realization. A repeated successful test of line 2-4 and resistance at 0.695 can lead to the continuation of the rally towards 0.707.
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