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Forex: NZD/USD Technical Analysis – Topping Setup Almost Done?

Forex: NZD/USD Technical Analysis – Topping Setup Almost Done?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices declined as expected after showing a Shooting Star candlestick
  • Breaking below0.8214 (38.2% Fib ret.) confirms a Head & Shoulders top
  • Above resistance at 0.8346 (trend line) 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 – Topping Setup Almost Done?

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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