Hello Traders
Welcome to another free analysis of NZD/USD - as always we are working on a multi-timeframe analysis working our way down from the monthly, weekly and daily to get an overall look at the current price action
As you can see from a monthly view, price has came back up to test a strong support level, we can assume price will close below this level. so we can predict a push to the downside
Moving down onto the daily we can clearly see an inverse head and shoulder pattern has formed and we have broken the neckline with a push to the upside as with all head and shoulder patterns with a strong move we can expect a retracement back to the neckline to test this level again.
We will be monitoring price action on the 4hour time frame with students to see if we can get an entry that matches all of our rules for our strategy
Please remeber to follow us on twitter for all of our free analysis etc
Welcome to another free analysis of NZD/USD - as always we are working on a multi-timeframe analysis working our way down from the monthly, weekly and daily to get an overall look at the current price action
As you can see from a monthly view, price has came back up to test a strong support level, we can assume price will close below this level. so we can predict a push to the downside
Moving down onto the daily we can clearly see an inverse head and shoulder pattern has formed and we have broken the neckline with a push to the upside as with all head and shoulder patterns with a strong move we can expect a retracement back to the neckline to test this level again.
We will be monitoring price action on the 4hour time frame with students to see if we can get an entry that matches all of our rules for our strategy
Please remeber to follow us on twitter for all of our free analysis etc