NZD/USD: kiwi lost power

NZD/USD: kiwi lost power


SELL 0.7185 SL 0.724 TP1 0.7085 TP2 0.703 TP3 0.696

SELL 0.73 SL 0.7355 TP1 0.72 TP2 0.7085 TP3 0.703

On the daily chart of NZD/USD, the inability of bulls to keep the pair above the upper border of the 0.7185-0.735 consolidation range signaled their weakness and triggered the “Shakeout-Fakeout” pattern. A break of support at 0.7185 will open the way down to bears.


On H1, bears attacked as NZD/USD formed the “Spike and ledge” pattern.  After it reached 88.6% target of the “Shark” patterns, the odds of a pullback to 38.2% and 50% of the wave CD increased.



How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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