NZD/USD: kiwi is storming a fortress

NZD/USD: kiwi is storming a fortress


BUY 0.7165 SL 0.711 TP1 0.7265 TP2 0.739

BUY 0.7090 SL 0.7025 TP1 0.7190 TP2 0.7265 TP3 0.7390

On the daily chart, NZD/USD bulls managed to get above resistance at 0.7250-0.7265. Never the less, the fight for this important level continues. If the pair reaches 113% target of the “Shark” pattern, bears will be able to counterattack.


On H1, NZD/USD bulls keep controlling the situation. Sustainable uptrend allows traders to buy on the pullbacks to 23.6%, 38.2% and 50% оof the wave CD of the “Shark” pattern. 





EUR/GBP: pound is chasing a bat

On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.

EUR/USD: bears hit the breaks

On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.


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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