NZD/USD: opponents concluded a truce

NZD/USD: opponents concluded a truce

Recommendation:

BUY 0.7280 SL 0.7225 TP1 0.7325 TP2 0.7395 TP3 0.7430

SELL 0.7185 SL 0.7240 TP1 0.7130 TP2 0.7085

On the daily, NZD/USD is consolidating in a range between 0.7185 and 0.7430. A break of its lower border will increase the risks of a correction. On the other hand, the return of the pair inside the uptrend channel with the following test of resistance at 0.7430 will open way up for the pair. 

 NZD1.png

On H1, NZD/USD advance above the upper border of the downtrend channel and resistance at 0.7280 triggered the “Bat” and the “Crab” patterns with targets at 88.6% and 161.8%.

NZD2.png

nzd

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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.

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