Head and Shoulder formed on NZDUSD - Neckline broken

3 thg 9, 2017

From the above Picture we can see a Head and Shoulder pattern has formed on NZDUSD Daily Timeframe. We have had a break and a retest on the Neckline, with the last daily candle finishing bearish. Although NFP figures came in under market forecast, it was still above the level the Fed Reserve are happy with 120k-150k they are happy with and figures showed 158k was the actual. The only thing that could hinder this trade pattern could be military action by the USA or words of War from Donald Trump, you could await the retest of the Neckline at 0.7200 to ensure you give yourself a good entry, Stop Loss placed 5-10 pips above Right Shoulder, Longer term targets could be 0.6950 before the previous resistance