On the NZD/USD daily chart, “bulls” are trying to regain the initiative and to restore the uptrend.
The 5-0 pattern is still relevant, however, so the rollbacks in the direction of 50% and 61.8% Fibo levels formed from the CD wave or return to the neckline of “Head and shoulders” pattern can be used for opening short positions.
On the NZD/USD hourly chart, a correction towards 50% and 61.8% Fibo levels, and the return of prices to 23.6% of the expanding wedge and 5-0 patterns can be used for opening long positions. If the resistance at 0.7335 is broken, there can be restoration of “bullish” trend.
Recommendations:
SELL 0,7187 SL 0,7242 TP 0,704,
SELL 0,7072 SL 0,7127 TP 0,686.
Origin: FX BAZOOKA
