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Forex: NZD/USD Technical Analysis – Head and Shoulders Top?

Forex: NZD/USD Technical Analysis – Head and Shoulders Top?

2013-11-11 09:00:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices fell as expected after showing a Shooting Star candle
  • Breaking below0.8192 (Oct 2, 30 lows) confirms a Head & Shoulders top
  • Above resistance at 0.8386 (23.6% Fib) targets 0.8435 (Sep 19 swing high)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_nzd-usd_body_Picture_11.png, Forex: NZD/USD Technical Analysis – Head and Shoulders Top?

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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