NZD/USD: the kiwi found the bottom

NZD/USD: the kiwi found the bottom

Recommendation:

BUY 0.6525

SL 0.647

TP1 0.6625 TP2 0.6725 TP3 0.681

On the daily chart of NZD/USD, the pair reached the 0.639-0.6435 convergence. It’s formed by the 88.6% level of the upward long-term wave and the 127.2% target of the AB=CD pattern. The rebound from the support will signal the bulls’ counterattack. Vice versa, the break of the support will let bears pull the pair down.

nzdusd_d.jpg

On H1, there are “Three Indians” and “Wolfe waves” patterns. The return of the pair to levels of the “second Indian” will increase odds of the correction to targets of the “Wolfe waves” and “Shark” patterns.

nzdusd_60.jpg

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Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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