NZD/USD Complex Right Shoulder a Possibility
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The NZDUSD remains one of the more compelling longer term bearish possibilities. Consider that…
-The decline from the April high unfolded in 5 waves (impulsive), the advance from the August low is defined by converging lines (pennant, common in bear market advances)
-Action since 9/18 may compose a head and shoulders top.
Trading Strategy: Nothing yet…I’m monitoring for setups on the short side. .8220/65 is possible support.
LEVELS: .8168 .8220 .8265 | .8295 .8329 .8373
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