Possible scenario on EU, Weekly Chart. Long followed by a Short if H& Shoulders pattern plays out as projected.
Head and Shoulders forming on H1 EN for a possible short entry at market structure and 78.6 fib confluence. Target- 61.8 fib of impulse leg.
We might see a big rally coming up on GBPNZD....
Let's try this one, pending buy at 1.05300, stops below 1.04400.
We are still +- 170 pips away from the bottom trendline and depending on how fundamentals shake the market in the upcoming days I expect buyers to start pushing around the 101.000 area.
Lets see whether this pattern plays out as constructed. The neckline forms a higher low though, but lets see what happens.
Possible short entry on EU. US Elections coming up, view on this trade might change in the upcoming days.