NZDCAD INVERSE HEAD AND SHOULDERS COMPLETES

We have been talking about NZDCAD upside for a while and in our previous post talking about a long trade into the resistance shown in the trading idea. Now we have seen the market complete an inverse head and shoulders pattern and looks likely to continue higher. We are now looking for the market to consolidate at the supporting neckline of 0.8660 where we could see buyers step back in pushing price into the resistance of 0.9000. Market patterns show us potentially changes in trend and work often, this is why we use them in our trading analysis.