NZDUSD has broken the H&S neckline in five waves from the bottom of the right shoulder, and is currently at a fib confluence resistance. Highlighted is a favorable spot for considering continuation longs at the confluence of the H&S neckline, 61.8% retracement, the channel's upper boundary, and wave (iv).
Failure at the spot may imply that the pair may be in an A-B-C correction within the general downtrend.
Failure at the spot may imply that the pair may be in an A-B-C correction within the general downtrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.