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Saad-ElFayed

AUDNZD: HEAD AND SHOULDERS FORMATION

Short
Australian Dollar / New Zealand Dollar (OANDA:AUDNZD)  
Saad-ElFayed Updated   
OANDA:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Chart Patterns Head and Shoulders AUDNZD aud NZD
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trendanalysis chartpattern headandshoulders audnzd aud nzd
A clear Head And Shoulders formation was made on the 30 Min chart of the AUDNZD. The neck-line of that chart is represented by the blue line and as you can see it is already broken. Take in consideration the broken bullish trend line, which support our bearish view for the pair.
Our entry will be right after a clear close below the 1.04900 targeting the 1.03500 support.
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Comment:
The prices now retested the neck-line and will start declining once it makes a clear close below the 1.04900 we will go short on this pair
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