NZDCAD, potential reverse H&S pattern, 4 hour chart
Risk on mood rallied NZD after recent sell off due to RBNZ dovish minutes release.
Reverse H&S pattern could provide early signal of trend reversal. Pattern MPO hitting 38% retracement and the down trend line, just below the 200 SMA.
No major CAD or NZD data release this week. As long as the risk on mood stays, technical set up has a high probability, with good risk-reward.
Happy Trading!
Reverse H&S pattern could provide early signal of trend reversal. Pattern MPO hitting 38% retracement and the down trend line, just below the 200 SMA.
No major CAD or NZD data release this week. As long as the risk on mood stays, technical set up has a high probability, with good risk-reward.
Happy Trading!