USD/CAD: loonie is taking off
USD/CAD is forming a “Three touches” pattern. A pullback from the upper border of the downtrend channel allowed bears to return the initiative.
NZD/USD: the kiwi met a dragon
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.
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.
Ivan Karamazov
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