NZD/USD: the kiwi met a dragon

NZD/USD: the kiwi met a dragon

2019-11-11 • Updated

Recommendations:

BUY 0.702

SL 0.6965

TP1 0.7125 TP2 0.719 TP3 0.7285

On the daily chart of NZD/USD, after the pair reached the 88.6% target of the “Bat” pattern, it rebounded to 23.6%, 38.2% and 50% of the CD wave. To continue the upward movement, bulls need to break the upper boundary of the downward channel.   

nzdusd_d.png

On H1, there is the “Dragon” pattern. If the pair breaks resistances at 0.702 and 0.703 (88.6% from the last downward wave) and reaches targets of the “Dragon heads” pattern, bulls will be able to go up.

nzdusd_60.png

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