On the NZD/USD daily chart, quotes came back to the neckline of the “Head and shoulders” pattern.
Rollback from the nearest resistance or from the lower boundary of the upward trading channel will allow us to open short positions.
On the NZD/USD hourly chart, there are the expanding wedge and the “Shark” patterns. The transformation in the “Shark” pattern into the 5-0 pattern will lead to the growth of quotes towards 23.6%, 38.2% and 50% Fibonacci retracement levels from the CD-wave. Then, there might be a rollback followed by the restoration of the downtrend (especially if the “bulls” manage to test the resistance at 0.7315).
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Recommendations:
SELL 0,7085 SL 0,714 TP 0,68
SELL 0,7145 SL 0,72 TP 0,68
SELL 0,7195 SL 0,725 TP 0,68.
Origin: FX BAZOOKA
