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

Ilya Spivak
0

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • A break below 0.8214 (23.6% Fib) confirms a Head and Shoulders top formation

  • Clearingresistance in the 0.8382-0.8435area (Sep 18-19 highs) exposes 0.8543 (Oct 22 high)

  • A close below 0.8214 initially exposes 0.8112 (38.2% Fib retracement)

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

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

New to FX? START HERE

For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Advertisement

Recommended Stories