NZD/USD: Possible H&S, but only if price moves below 0.6929

19.12.2016 / 12:50

Rating:

Long term trend - short, medium term up move.

Price at diagonal and horizontal support and its risky now for new short as we do not see a break below.

Only if price breaks below 0.6929 will give us a signal for new short.

Indicators in negative territorry

Price is below the 50 and 200 EMA's as they are in bearish formation.

Possible H&S, but only if price moves below 0.6929

Lower Highs and lower lows, possible change of tendency for short, but signal will be valid only below 0.6929

Alternative scenario: If price moves above 0.7051 will give us an early indication for move up side where we can open longs with stop below 0.6929

Stefan D. Angelov - Head of Stocks Trading

Varchev Traders

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NZD/USD: Possible H&S, but only if price moves below 0.6929

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