EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
NZD/USD will soon reach its limit
Information is not investment advice
The USD is getting weaker in many currency pairs as the Federal Reserve officials hinted at the possibility of further rate cuts this year. However, these pairs are also testing major resistance levels and may turn around soon if/when the US data improves. Notice that the expectations of lower rates in the United States are largely priced in.
As a result, we want to bet that NZD/USD won’t be able to rise above 0.6710 (50% Fibo of the March-May decline, 200-day MA, 50-week MA) and turn down. The target will lie at 0.6655/40 (38.2% Fibo, 50-day MA) and maybe even 0.6590 (23.6% Fibo).
The short-term picture looks bullish, and NZD/USD will be able to reach 0.67 as long as it’s trading above 0.66.
Elizabeth Belugina
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EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
Will GBP/CHF use its chance?
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
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