NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
USD/CHF: franc is at the crossroads
Recommendation:
BUY 0.9985 SL 0.9930 TP1 1.0085 TP2 1.0195 TP3 1.0400
SELL 0.9920 SL 0.9975 TP1 0.9850 TP2 0.972 TP3 0.9620
On the daily chart of USD/CHF, an advance to May high will trigger AB=CD pattern with a target at 224% and increase the odds of the pair getting to the target of “Wolfe waves” pattern. On the other hand, a return of the pair to the downtrend channel will trigger the “Bat” pattern.
On H1, USD/CHF keeps forming a “Widening wedge”. A break of resistance at 0.9985 will open the way up. On the other hand, a break of support at 0.9920 will allow bears to seize the initiative.
Ivan Karamazov
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The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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