NZD/USD: kiwi is gaining its strength

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.

 

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Bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; but the market is overbought and under the strong resistance of 0.8000.

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Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

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