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QueefPlume2112

NZD/USD Multi-decade head and shoulders formation

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
QueefPlume2112 Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Harmonic Patterns Chart Patterns Trend Analysis
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harmonicpatterns chartpattern trendanalysis
Long term historical charts of NZD/USD are looking quite bearish from a technical point of view. This multi decade head and shoulders formation could be starting to break down. The head is a nice looking double top as well Price target of .50 over the next 12 months. Lines up nicely with a trend line, the lows in 2009 and the .786 fib from the all time lows to the highs in 2011.

Side not - all the de-Dollarization doom narratives being parroted in recent months seem to be offering a massive contrarian indicator unlike anything I have ever seen. Time to get long USD
Comment:
We have all been given a gift to one of the greatest short opportunities of the decade. Short NZD/USD here and take it down to .50
Comment:
Still absolutely think this could happen by year end, Still sating short. Adding significantly if it breaks the 2020 and 2022 lows. Target .50 then buying massively
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