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Nzdusdsetup

NZDUSD Analysis: Retest of inverted head and shoulders necklineHi traders , from my point of view I see a very clear inverted head and shoulders reversal pattern on this pair. The price after rising higher fell down to retest the neckline and seem to respect it. I see high chances of price rising higher up to 0.67097 but may stagnate at the indicated levels. I would appreciate your views on the pair in the comments section. If you agree with the analysis please hit the like button to help reach more traders.
Long
by John_Mwaniki
NZDUSD Analysis: At a critical point with double trade scenariosNZDUSD has been in a downtrend for quite some time. Scenario 1: On reaching to a strong support level it has formed what looks like a perfect inverted head and shoulders reversal pattern. Price is currently at the neckline and what we expect next is for it to move up a little bit then pull back for a retest of the neckline so that we can go long for the pair. Scenario 2: The price looks like following a descending channel in which it has tested and respected several times. If the price bounces off from the channel resistance line then we can go short. Let me know your views about this pair. If you like the analysis you can like to show agreement.
by John_Mwaniki