NZD/USD wants to get into an old cage

NZD/USD wants to get into an old cage

2019-11-11 • Updated

Recommendation:

BUY 0.7075

SL 0.7020

TP1 0.7165 TP2 0.7265

On the daily chart, buyers managed to lead the pair outside of the short-term consolidation range and return them inside an uptrend channel. If they succeed, the risks of an uptrend resumption will increase. The recoil of diagonal resistance will allow expecting the test of resistance at 0.6963.

NZD1.png  

On H1, NZD/USD is realizing “Head and Shoulders” and “Shark” patterns. If the pair renews December high, it will create grounds for 88.6% of the “Shark” patterns.

NZD2.png

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