Potential sharp move down in NZDUSD on D/W in the following weeks?
- We are now at 38.2% fibo level of the previous down move
- The move to 38.2% fibo level was not very aggressive and it seems it developed a bearish flag/raising wedge pattern
- At the moment on daily just developing potential H&S pattern which would create a target at around 0.70
- The last move up in the potential H&S pattern created another potential H&S pattern on 4H chart. But that one could also be a bearish flag, so caution
- We are now at 38.2% fibo level of the previous down move
- The move to 38.2% fibo level was not very aggressive and it seems it developed a bearish flag/raising wedge pattern
- At the moment on daily just developing potential H&S pattern which would create a target at around 0.70
- The last move up in the potential H&S pattern created another potential H&S pattern on 4H chart. But that one could also be a bearish flag, so caution