NZDUSD - Possible Hamonic Pattern (Nen-Star)

11 May 2021NZDUSD

Good day. We focus on NZDUSD which has presented a possible Nen-Star pattern.

Should this pattern succeed, we will expect the pair to reverse, most likely around 0.73024 & 0.73217, which happpen to be 113 and 127% corrections of our initial X - A leg.

It is important to also note that the above mentioned range will also act as a test for price as it is a Supply level that has been recently tested by this pair.

Short positions will only be taken once we have good confirmation of a reversal.

Good luck.