We expect further downside on this pair, signalled by the formation head and shoulders pattern breakout. We can also see the breakout of a short-term trendline and key level supports our directional basis
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Support to watch for:
Support: $28300
Support: $27900
Support: $26800
Head and Shoulders Top (Reversal Pattern):
Left Shoulder: The pattern begins with an upward price movement, known as the left shoulder, where the price reaches a peak.
Head: After the left shoulder, the price continues to rise,...
Here is another Forex Trading Snack
NZDUSD fell below the 2015 low ( indicated by the black horizontal line) but bounced just as quickly back above. Thus tells me that that level might be of interest of larger position holders.
What makes this very interesting is the weekly candles. Moving back to the shorter 4H charts I saw this inverted Head & Shoulders...
