At yesterday's trading, the EUR/USD price dropped to the support zone of 1.179. Thus, we can perceive this as a small corrective movement in relation to the strong growth that the pair showed at the end of last week. But due to the fact that it is already clearly seen that the price has pushed off from the support zone, its further growth can be expected. So, based on the pair indicators, I predict that EUR/USD will continue its rising towards the resistance level of 1.182.
A somewhat similar situation took place in the NZD/USD pair. After a strong fall in mid-September, the price was growing steadily to its previous positions. At the end of last week, it made a pullback and correction, and now is at the strong support level of 0.665. Thus, a further growth towards the strong resistance line at 0.668 is expected. Moreover, this is a good time to open a buy trade.
Since the beginning of the year CAD/JPY has been moving relatively smoothly between the strong resistance level of 80.48 and the support level of 78.42, constantly returning to their limits. Now we see that after a jump on Oct. 7, the price approached the resistance level. So, now I expect that CAD/JPY will only touch this level, then reverse in the downtrend and start moving towards the support level of 79.95.
NZD/JPY is another pair that is working out positions after a big fall in September. On the 4-hour TF, we see that a good support line has formed on the chart due to several pullbacks and corrections. And right now the price is moving along this line. Therefore, the pair is predicted to touch support and bounce off it for future gains. So, the target is the resistance level 70.48.
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EUR/USD: Storming The Market
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