NZD / USD: H & S - probable breakthrough of the neck line

16.11.2016 / 13:30

Rating:

NZD / USD: Daily schedule - up trend and a break of support

Price on diagonal (former) support

Formation: head and shoulders possible breakthrough of the neck line

indicators:

50 / 200MA: price below 50

CCI (50) passes under 100 - strongly negative territory

SL 0.71492

Sentiment: negativity for New Zealander ather earthquake in the country and the decrease in interest rates, have a strong negative impact on the NZD. On the other hand the growing possibility of an increase in interest rates in the US have a strong positive impact on the dollar.

Alternative scenario: If the price crosses above the diagonal resistance is likely to see a false breakout and a new upward movement.

Jr_Trader_I_Ivanov

Varchev Traders

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NZD / USD: H & S - probable breakthrough of the neck line

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