Mahtab_Tradia

NZDUSD In The Expanded Triangle Pattern

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Generally we have a uptrend in NZDUSD but in Weekly and Daily time frames, MACD shows a negative regular divergence and price is approaching to the resistance level . In 1 Hour, there is an Expanded triangle pattern and price got rejected by the upper side of it. It seems like a bearish reversal head and shoulders pattern is going to be created and price may retrace a little bit. IF the head and shoulders pattern created and the neckline broken out to the downside, price may drop around 0.7255 which is our first demand level and IF there was any rejection by that level, we can expect the price to rise again. Otherwise, price may go lower around the second demand level which is around 0.7215 and then start to grow. What is your view about this pair?
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Comments

Very nice analysis. Keep it up!
+1 Reply
@abel11 ☺️🙏🏻
Reply
Too good... well done☺
+1 Reply
@RishiMa Thanks so much
Reply
Beautiful setup mate. Thank you!
+1 Reply
Mahtab_Tradia T_V_TreeTrader
@T_V_TreeTrader Welcome ☺️
Reply
Very possible
+1 Reply
Mahtab_Tradia Dave-FX-Hunter
@Dave-FX-Hunter ☺️👍🏻🙏🏻
Reply
thanks !!!
+1 Reply
@itsMarco Welcome ☺️
Reply
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