Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

NZD/USD Possible Long Trade Setup

Published 09/19/2017, 01:44 PM
Updated 07/09/2023, 06:32 AM


We have reached a critical point on NZD/USD. We have 2 different scenarios with same targets.


Our first scenario is the completion of possible head on shoulders pattern. NZD/USD is being priced at 0.73162 currently. Price can test ultimate resistance at 0.73500 Fibonacci Retracement 50% and pulls back towards 0.73000 / 0.72500. Then, reverse from that supports and head for 0.73500 to complete head and shoulders pattern. Target will be 0.74590 and 0.75500.


The second scenario is NZD/USD breaks above the 0.73500 and turns out to be a cup with handle pattern whit the same targets. We will keep eye on the resistance level to be broken ( we need H4 closing above 0.73500 ). Otherwise, we will wait for the pullbacks towards 0.73000 and 0.72500.NZD/USD Daily Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.