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HandraCapital

Potential HUGE sell down in NZDUSD. *400 pips sell off*

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
HandraCapital Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Chart Patterns Trend Analysis
4
0
chartpattern trendanalysis
Head and shoulders pattern with downward sloping line which makes it even more bearish. In our view, NZDUSD is poised to have a huge sell off along side with AUDUSD. Price has already closed below 200EMA which confirms its bearishness. With NFP data releasing later, it will help to push NZDUSD even lower. We are BEARISH on NZDUSD. TP EP SL are shown in the chart.
Comment:
It has closed below 38.2% of Fibo. Possibly a break down coming on monday opening. As of closing, we are seeing XXXUSD shorts are squaring off due to weekends. We are still BULLISH bias on USD even due to weak NFP data.
Comment:
Coming down nicely. Adding more at 0.7
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