NZD/USD: the kiwi is haunting the “Bat”

NZD/USD: the kiwi is haunting the “Bat”

2019-11-11 • Updated

Recommendation:

SELL 0.6995

SL 0.705

TP1 0.692 TP2 0.6855

On the daily chart of NZD/USD, the break of the bottom line of the 0.7185-0.735 consolidation let bears implement the “Bat” pattern with the 88.6% target and hope that the uptrend will end soon. However, firstly, bears need to gain a foothold lower an important level of 0.703.

nzdusd_d.png

On H1, there are conditions for the “Dragon” pattern. After the pair rises to the Curl of the Dragon's Tail or the 78.6% target of the “Gartley” pattern, there is a risk of the pullback.  To resume the downtrend, bears need to break the support at 0.6995.

nzdusd_60.png

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