NZD/USD: the kiwi drew a pin bar

NZD/USD: the kiwi drew a pin bar

Recommendations:

BUY 0.6785 SL 0.673 TP1 0.687 TP2 0.696 TP3 0.7045

SELL 0.672 SL 0.6775 TP1 0.662 TP2 0.652 TP3 0.65

On the daily chart of NZD/USD, bulls are trying to implement the pin bar, pull the pair to the upper boundary of the downward channel and the resistance at 0.6855. On the contrary, bears hope to break the support at 0.672, implement the AB=CD pattern again and reach its 261.8% target.

nzdusd_d.png

On H1, if the pair breaks the resistance at 0.6785, the “Shark” pattern with 88.6% and 113% targets will be implemented. The 113% target is near 0.687.

nzdusd_60.png

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Latest news

XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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