October 09, 2020 at 09:17AM
• EURNZD reversed from resistance area
• Likely to fall to 1.7700
EURNZD recently reversed down from the resistance area located between the key resistance level 1.7880 (top of the previous wave A), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the earlier downward impulse from August.
The downward reversal from this resistance area created the daily reversal pattern Shooting Star Doji – which marked the start of the active impulse wave (3).
EURNZD is likely to fall further toward the next support level 1.7700 – the breakout of which will open the way for further losses toward 1.7600 (low of wave B).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurnzd-wave-analysis-9-october-2020-20201009/
Selected by fonecable.com
- S&P 500 Holds Losses Despite Pullback in Short-Term Consumer Inflation Expectations
- Gold Price Forecast: Gold Threatens Larger Break, 1854 Support in Sight
- Markets Week Ahead: Dow Jones, US Dollar, Gold, Euro, Fed, CPI, China
- S&P 500 Outlook: Equities Drop Ahead of Peloton, Disney and Alibaba Earnings
- USD/JPY Forecast – Setting Up for the Next Leg Higher?