NZDUSD IS IN THE PROCESS OF MULTIPLE PATTERN FORMATION, KEEPING IT SIMPLE AS PRICE ZONE FOR BOTH PATTERNS ARE THE SAME.
X=7375,A=6816,B=7120 AND NOW IN THE C LEG OF THE PATTERN.
PRICE ZONE FOR C IS IDEALLY BETWEEN 7005-6930 HOWEVER IT CAN GO AS LOW AS 6850.
ONCE C LEG IS COMPLETED THEN PRICE TARGETS FOR D:
D=7312(886 OF XA) OR 7452(113 OF XA).
X=7375,A=6816,B=7120 AND NOW IN THE C LEG OF THE PATTERN.
PRICE ZONE FOR C IS IDEALLY BETWEEN 7005-6930 HOWEVER IT CAN GO AS LOW AS 6850.
ONCE C LEG IS COMPLETED THEN PRICE TARGETS FOR D:
D=7312(886 OF XA) OR 7452(113 OF XA).
Note
ALTERNATE Shark pattern in formation, upside resistance coming in at 7160(618), ideal price zone = 7312(886) or extension to 7452(113) for completion.Note
Once the price closes Above 7160(618) the Bat pattern will be invalidated.Note
NZDUSD is nearing upside resistance, price target 7260-7310, caution warranted as price could continue higher above 7260-7310 or consolidate from this price zone to lower.Note
NZDUSD tagged price zone at 7310 and now lower 7185, it is venerable here around 7230-7240, however if it consolidates here then expect 1 more high to around 7260-7270 then it could either break down lower below 7185 to 7150-7130.
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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.