NZDUSD pair is in a small downtrend with a larger descending channel. it broke the downtrend on 19 July. here if it completes a double bottom pattern, there is a high chance it will go up to more than 500 pips. keep an eye on this pair.
this is the bigger picture of EURUSD on 1D chart. it is on small bearish trend and could touch the lower trend line of the channel. it may then give a bullish setup on the channel
three factors are confirming this selloff: 1. it is a downtrend market. 2. 20 and 100 MA both indicate downtrend 3. the corrective wave bounced from 38 fib retracement level. 4. the price is bouncing from resistance level 79.002
