NZDUSD - PipCity

8 Eki 2017

This chart shows that there was trend reversal to the upside due to a head shoulder price action pattern. There is a constant upside and small retrace on the key fib levels. Something to look out for is the resistance at the top which MIGHT be an early indication of double top which is trend reversal. However, this is no confirmation of trend reversal yet, the pair would have to break the lower trend line for this to be confirmed. If the pair does not break the lower trend line then the pair will continue to rise.