Get started
theConsultant45

H1 Descending Triangle

Short
New Zealand Dollar / U.S. Dollar (FOREXCOM:NZDUSD)  
theConsultant45 Updated   
FOREXCOM:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators Descending Triangle NZDUSD
1
0
trendanalysis chartpattern indicator descendingtriangle nzdusd
Descending Triangle on H1

Near Daily S1 pivot at 0.7187 which also happens to show decent support structure.

If a break to the downside occurs we could see a continuation to 0.7135 then 0.7105.

Comment:
Price has found its way to the lower trend line. Support in this area is important. Trend line break at this point would be a break in support and we could see targets to 0.7135 and 0.7105.
Comment:
Really nice breakout to the downside from the lower trend line right into the next support of 0.7135!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.