Harmonic Analysis - Cypher and Gartley patterns to monitor
The last NZDUSD bearish setup (see linked idea) reached target zones and drove the price back to the 0.65 support zone (structure).
Today we see this pair bouncing from the structure support and also from the completion of a bullish Cypher pattern completion just above 0.65.
There are two potential buy zones in $NZDUSDU:
1. Current support - Bullish Cypher and major daily structure - Can lead towards 0.66-0.65 to test structure resistance, broken trend line and 50 SMA line.
2. Bullish Gartley - If the price will decline below 0.645, it can complete bullish Gartley near 0.635.
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Tomer, The MarketZone
Today we see this pair bouncing from the structure support and also from the completion of a bullish Cypher pattern completion just above 0.65.
There are two potential buy zones in $NZDUSDU:
1. Current support - Bullish Cypher and major daily structure - Can lead towards 0.66-0.65 to test structure resistance, broken trend line and 50 SMA line.
2. Bullish Gartley - If the price will decline below 0.645, it can complete bullish Gartley near 0.635.
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- goo.gl/sQbyci
To subscribe to the newsletters - goo.gl/JfOLoR
Tomer, The MarketZone
Trade closed: target reached
