Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen.
NZD/USD: the kiwi is near the precipice
TP1 0.6775 TP2 0.6675 TP3 0.664
On the daily chart of NZD/USD, bulls couldn’t break the resistance at 0.706 and pull the pair out the downward channel that signaled their weakness. Bears are ready to implement the AB=CD pattern with the 200% target.
On H1, the pair is near the 88.6% target of the “Bat” pattern. If the pair reaches the target, there is a high possibility of the pullback. To continue the downward movement, bears need to break the support at 0.6875.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen.
On the daily chart of USD/CHF, there was a rebound to the 23.6% level from the CD wave of the junior “Shark” pattern within its transformation to the 5-0 pattern.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...