Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
NZD/USD: the kiwi is near the precipice
2019-11-11 • Updated
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.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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