Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
NZD/USD: kiwi is gaining its strength
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.
Bearish Ichimoku Cloud, but horizontal lines Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with weak channel Tenkan-Kijun; the market is in consolidation on Tenkan-sen and Kijun-sen.
A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.
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.
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