NZD/USD: kiwi is on the crossroads

NZD/USD: kiwi is on the crossroads

On the NZD/USD daily chart, there is a correction towards the uptrend. A break of the resistance at 0.7345 will increase the risks for the implementation of the target 113% in the Shark pattern. In contrast, an update of the July low will lead to the development of the correction.


On the NZD/USD hourly chart, it seems that Bulls took a break as there is a consolidation after the long-term uptrend. If we are talking about the process of distribution of the short positions, there will be a deep correction. In contrast, the accumulation of long positions will lead to the continuation of the rally.



USD/JPY: Dollar will continue downtrend

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak goldean cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are on the weak Kijun’s support.

AUD/USD: aussie under strong resistance

Bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; a market is overbought and under the strong resistance of 0.8030.

USD/JPY: Dollar in correction to Cloud

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market is in correction phase.


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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