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.
NZD/USD: the kiwi learns to fly
TP1 0.6875 TP2 0.6915 TP3 0.7015
On the daily chart of NZD/USD, if the pair goes out of the downward channel and breaks the resistance at 0.6855, the “Bat” pattern with the 88.6% target will be implemented. It corresponds to 0.702.
On H1, bulls get ready to break the resistance at 0.6825. If they succeed, bulls will pull the pair out of the downward channel and the “Shark” pattern with the 113% target will be implemented. When the pair reaches the target, there is a risk possibility of the pullback within 5-0 transformation.
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
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.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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