NZDUSD
Time Frame: D, H4
Technical Analysis: The price has formed trend reversal formation "Head & Shoulder" at 50% Fibo retracement of downtrend movement started on 25.01.2018. The formation is confirmed by breakout of the neckline from 19.12.2018.
Indicators: The price is below 50-DMA and 200-DMA on H4 time frame, which confirms bear scenario.
DeM(14): Indicates oversold zone and don`t support short sale.
Enter: Aggressive trade is at current levels at ~0.6760- 50,while the more conservative traders could wait for violate the bullish "engulfing" candle formed on 20.12.2018.
SL: 0.6910
Alternative scenario: If the price pass above 0.6910, we could see transformation from "Head & Shoulders" to "Flag Formation" which could extend the correction to upper resistance of the downtrend channel at zone ~0.70
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