EURNZD Inverse Head & Shoulders Breakout ????
EURNZD has made and inverse H&S between 2012 and 2017. Price looked to break this pattern in late 2018 , but failed at resistance of 1.79.
The pair have been on an impulsive move from 1.65 to 1.74 over the past 4 weeks.
It seems likely the 1.79 level will again be tested , and maybe late 2019 sees a breakout and retest of this key level.
IF so, I would change from a neutral to bullish weighting on this pair to a bullish viewpoint , with the next target at the swing high of 1.95 , which would fit with an equal extension of the H&S pattern.
This would likely be brought about , not by Euro strength , but likely weakness in the Kiwi brought about by an extremely Dovish RBNZ.....
The pair have been on an impulsive move from 1.65 to 1.74 over the past 4 weeks.
It seems likely the 1.79 level will again be tested , and maybe late 2019 sees a breakout and retest of this key level.
IF so, I would change from a neutral to bullish weighting on this pair to a bullish viewpoint , with the next target at the swing high of 1.95 , which would fit with an equal extension of the H&S pattern.
This would likely be brought about , not by Euro strength , but likely weakness in the Kiwi brought about by an extremely Dovish RBNZ.....
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.