GBPNZD cycles suggest a good time for a sell. The uptrend trendline is broken and that should put price under pressure. Overall I expect price to go down and hit 2.0780 area. Good selling opportunity might right now at 2.1330.
High-Tech Analysis on Majors and Crosses
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NZDCAD just started a new cycle up that could lead to further upside extensions. I see the target near 0.9380 area, which is the point of the channel breakout.
NZDCAD rejecting the support zone of the established range. Oscillator pointing on the oversold condition that could result in price going up to test key resistance near 0.9060 area.
GBPAUD bounced of the uptrend trendline the same as the Demarker oscillator. This could suggest another and perhaps final swing up to test 2.0080 area.
EURCAD nicely bounced of the uptrend trendline and at the same time it is making new highs but the support around 1.3450 is still holding. I think we should hit 1.3985 shortly.
EURJPY producing higher highs and yet no new lows appear. I'd expect pair to continue rising and hit 139 are in the very near future, perhaps by the end of this week.
After a nice rally up GBPAUD corrected what seems to be a good entry point for the long position. The rally does not look over as no signs of reversal are presented. Target area 2.0180
GBPNZD continues to print new lower highs and higher highs without any signs of reversal. In fact uptrend could just accelerate from this point and hit our target in the next few weeks.
NZDJPY rejected the trendline as well as resistance level. This could result in a sharp fall targeting 86.50 area, that is over 200 pip move down from the current rate.
EURNZD broke above key resistance that could be a signal of a long term uptrend taking place. I think price could move up to 1.66 area that would make over 1000 pip upside move potential.
It seems USDJPY now in the ranging mode where best is to use oscilators. Now USDJPY bouncing off the resistance and Demarker showing overbough. I think it is very likely price will drop back to support.
USDCAD rejecting descending channel suggesting a corrective move down towards 1.23 area that is 38.2% fibs retracement level.
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