Bullish target for NZD/USD
NZD/USD made a confident rebound during the recent two weeks.
USD/CAD: bulls got into a trap
Recommendation:
SELL 1.2655
SL 1.271
TP1 1.2555 TP2 1.2495
On the daily chart, USD/CAD formed a “Shakeout-Fakeout” pattern with a false break of an upper border of a triangle. As a result, the pair went outside of the uptrend channel. Such dynamics increases the risks of it sliding to 88.6% target of the “Bat” pattern.
On H1, USD/CAD is finishing a “Widening wedge” pattern. A pullback to 23.6% with the following return to point 5 means that bears are serious.
Ivan Karamazov
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Last week EUR/USD tested 1.1570 but then retraced down and closed below 1.15.
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