Rebound
USDCHF right time to sell or buyWatch for a rebound or a breakdown -
Buy above 0.9700 ... Sell below 0.9650
Gold potential cypher patternPossible gold rebound after kissing the 1,272 fibonacci extension, looks like a beautiful setup.
NZD/USD slips to 0.7310Daily outlook - NZD/USD slips to 0.7310
An early hours of Wednesday’s trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern.
For this reason, the currency rate has expectedly bounced off from the weekly S2 at 0.7310.
Most probably, the surge would continue at least until the 0.7348 mark.
A number of major technical indicators support this assumption, pointing out that the pair is oversold. However, then the rate will have to encounter the 55-hour SMA, which might force it to step down.
If this scenario materializes, this might be a sign of formation of a falling wedge.
In contrast, if the pair succeeds to pass through it, that will confirm the relevance of the current descending channel.
But, generally, the pair is expected to continue to slip to the bottom, as 71% of traders hold short positions.
