Technician
Long

NZDUSD: Potential Bullish Scenario

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
2000 5 28
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

Join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
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
https://thefxchannel.com
To bad the buy didn't got executed !
Reply
It will pull back because there is AB=CD pattern
Reply
thanks technician
Reply
Good analysis...
Reply
Tricky chart to make, looks like it will fall over 50 pips first,
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out