NZD/USD had been in an uptrend on the daily chart.
Price started to correct deeply and no that correction seems to have finished of with an inverse head and shoulders.
To add to this, the Elliot wave sequence has completed for this correction and we can expect a reversal of it, hence a continuation to the upside.
Price broke the neckline of the Inverse Head and Shoulders and now is giving us a bullish continuation pattern right below key resistance.
This signifies a break out build up.
We should expect price to break soon but it can come down and then later go up, I'm sticking to longs for now.
We should long when price breaks the resistance and target the price marked in green
NZDUSD
Price started to correct deeply and no that correction seems to have finished of with an inverse head and shoulders.
To add to this, the Elliot wave sequence has completed for this correction and we can expect a reversal of it, hence a continuation to the upside.
Price broke the neckline of the Inverse Head and Shoulders and now is giving us a bullish continuation pattern right below key resistance.
This signifies a break out build up.
We should expect price to break soon but it can come down and then later go up, I'm sticking to longs for now.
We should long when price breaks the resistance and target the price marked in green
NZDUSD