18 years strong, interesting story for Kiwi
Ascending Monthly Trend for NZD/USD respected for the 3rd time since 2001.
*Triple Bottom (Monthly), on monthly trend 3 touches
*Double Bottom (Weekly), on monthly trend 2 touches
*Inverse H&S (Daily), on monthly trend 1 touch
Price action on trend seems to like a pattern of patterns which touch 3 times then 2 times and 1 time. Next test most likely wont survive a run higher.
*Monthly Supply zones outlined higher
*Weekly 200MA shows strong resistance as triple top formed on the weekly TF
*High probability inverse H&S pattern forming with an evident Inverse H&S pattern formed in the head
Bullish, above 0.6467,
TP1 - 0.6571 @ roughly where 200MA & 61.8 fib level confluence
TP2 - 0.6723 @ end of extrapolated Inverse H&S completion and 88.6 fib level confluence
SL - below 38.2 fib level once price action takes off out of Inverse H&S pattern
*Triple Bottom (Monthly), on monthly trend 3 touches
*Double Bottom (Weekly), on monthly trend 2 touches
*Inverse H&S (Daily), on monthly trend 1 touch
Price action on trend seems to like a pattern of patterns which touch 3 times then 2 times and 1 time. Next test most likely wont survive a run higher.
*Monthly Supply zones outlined higher
*Weekly 200MA shows strong resistance as triple top formed on the weekly TF
*High probability inverse H&S pattern forming with an evident Inverse H&S pattern formed in the head
Bullish, above 0.6467,
TP1 - 0.6571 @ roughly where 200MA & 61.8 fib level confluence
TP2 - 0.6723 @ end of extrapolated Inverse H&S completion and 88.6 fib level confluence
SL - below 38.2 fib level once price action takes off out of Inverse H&S pattern
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