Technician
Long

NZDUSD: Potential Bullish Scenario

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
2001 views
28
2001 5
The pair has failed to sustain the break below 0.7700 support level , forming an inverted head and shoulders pattern which was broken earlier. Meantime, a clear bullish divergence is seen on RSI over the daily and four-hour time intervals. I am looking for a minor pullback from the descending resistance shown on chart , for a possible retest of the broken neckline of the inverted H&S pattern before moving higher again.
This could be the case , and could be not :) . Wish me luck

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Technician

Notes:
-If 90 percent of first target is reached I move stop loss to breakeven.
-Remember: Losing is a main part of the game
To bad the buy didn't got executed !
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It will pull back because there is AB=CD pattern
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thanks technician
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Good analysis...
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Tricky chart to make, looks like it will fall over 50 pips first,
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