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Carnelltrade
Sep 12, 2016 6:23 PM

NZD/USD update... head and shoulder formation  

New Zealand Dollar/U.S. DollarFXCM

Description

Expecting the right shoulder to move a little higher to test the 386 res. before a breakdown to around the 200 level or below. Very interesting pair at the moment.

Comment

here we have the initial head and shoulder move which i feel is a HS within a larger HS pattern that is forming. Outlook remains bearish.

Comment

Trade closed just before the anticipated upwards move 200 + pips waiting a fib correction with bearish bias still very much apparent
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