NZD/USD: the kiwi faces the uncertainties

NZD/USD: the kiwi faces the uncertainties

Recommendation: 

SELL 0.6840 SL 0.6895 TP1 0.6760 TP2 0.6695 TP3 0.6630,

BUY 0.6895 SL 0.6840 TP1 0.6970 TP2 0.6990 TP3 0.7050

On the daily chart of NZD/USD, the "Three Indians" pattern is implemented. Bears managed to move the pair out of the upward channel. They plan to break the support at 0.6750, activate the "Shark" pattern and reach its 88.6% target. 

nzdusd_d.png

On H1, the pair moves down due to the combination of the "Three Indians" and "Spike and Ledge" patterns. If the bearish pressure continues, the pair may retest the lower border of the "ledge". Otherwise, if its upper border is broken, bulls will push the pair up. 

nzdusd_60.png

Similar

Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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