An idea whether rising wedge (bearish continuation) in H4 time frame to be materialized ahead of FED speech.
Trade with care.
There are 4 signs of bearish reversal.
-Follow by again Bearish Engulfing
-Strong break of 20 SMA
Find the way to join the bearish trend, possibly on retest of previous bullish channel.
EURNZD end of considation within descending channel (bull flag), starting new impulsive up leg with HH HL.
The pair that nicely shown reversal from market top, wait for right shoulder to be form.
Wait for price action for bearish reversal near 0.95500 - 0.96500.
Price likely to move down towards 61.8 / 78.6 whereas demanding is around 1.53300.
If price retrace to 50/61.8 fibonacci, great opportunity to join bullish market, ideally among trend line (projection @50.0%), price likely to consolidate at 21.100.
Great short opportunity presence, Head and Shoulder with retested neckline, Inside Bar with Fakey Key.
Since Brexit, there are 2 instances of rejection of this zone, the 3rd one was just happening last friday. Expect price to move lower to range 1.10500 - 1.09600.