(UPDATE) - EURCAD is currently trading above the support zone around 1.35680. This price action together with the inverse head and shoulders adds to the confluence and confirms bullish momentum. As such, traders already have long positions with targets set at the supply zone around 1.36426.
(UPDATE) - EURCHF has broken below the previous low of the corrective structure and rallied up. This price action completes the corrective structure and provides trading opportunities to the upside. As such, traders anticipate the trend to continue to the upside and create new higher highs.
(UPDATE) - GBPNZD is currently forming a consolidation within the corrective structure. The overall trend is still bearish and traders are focusing on trading opportunities to the downside. With the recent price action, there is a possibility that the market could rally up to the top of the corrective structure before resuming the trend to the downside. As such, traders will start looking for trading opportunities at the top of the structure.