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What May can bring us?

 

In recent weeks markets began to move. In some cases this may be beginning of something bigger. Let's see what may can bring us.

EUR/USD broke above 1.35 level and it is very likely that it will test 1.40. At this level there is located upper line of rising channel. However, market now has to deal with down trend line and 1.39 level which is the recent top for this chart. If market closes below 1.34 our positive scenario will lose it's power.

Another market where big move was made is USD/CHF. Support level at 1.12 has been broken and further loses are possible. The vital test will be at 1.10 level where long term uptrend line runs. If this is broken market could fall even to 1.05. Resistance is placed around 1.13.

Last market for today is NZD/USD. There is a chance for bigger move there. Today NZD broke both 0.6 level and neckline of head and shoulders pattern pattern. If in the nearest days market does not close below 0.59 then it can test 0.65 level soon.