ChrisThein
Short

NZD/USD 60 min Bearish Head & Shoulders Pattern

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
We have a Bearish Head and Shoulders pattern on the 60 min chart with RSI Divergence. I'm looking for price to come back up and test .6583 level. This correlates with the top of the right shoulder and 50% of the Shooting Star's wick on the Daily chart . The Renko bars also rejected this level. I'm putting my stop just above the swing high. Target one at the first structure level with the 50% Fib level .6517. My second target is the next structure level at the 88.6 Fib .6448, which also correlates with the 50% of the Spinning Top's wick on the Daily. Good luck trading out there.
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