Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
NZD/USD: kiwi lost power
2019-11-11 • Updated
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.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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