NZD/USD: waves are coming

NZD/USD: waves are coming

Recommendation:

BUY 0.7295

SL 0.724

TP1 0.7395 TP2 0.7475 TP3 0.76

On the daily chart of NZD/USD, the inability of bears to break below 0.7170 (50% of the wave 4-5 of the “Widening wedge” pattern) points at their weakness. To resume the uptrend, bulls need to push the pair above resistance sat 0.7395 and 0.7475.

NZD1.png 

On H1, NZD/USD after forming a widening wedge the pair formed “Wolfe waves”. A break of diagonal resistance at 2-4 will create grounds for continuation up to 1-4.

NZD2.png

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