The currency pair New Zealand dollar NZD USD finished the trading week on a strong drop in the level of 0.70. At the moment, the pair quotes struck neckline reversal forex head and shoulders pattern, which indicates a continuation of falling NZD USD at 0.66.
Forex NZD USD Forecast on November 21, 2016 — November 25, 2016
Cancellation option will be a strong growth of quotations of the New Zealander on the next trading week above the level of the right shoulder, which points to a continuation of growth. Also do not forget about working out a bearish Wolfe wave model with a drop goal at the level of 0.65. We continue to hold to sell the pair and increase the amount of short positions on the NZD USD.
Forex NZD USD Forecast on November 21, 2016 — November 25, 2016 suggests an attempt to continue falling in the framework of working out a reversal forex head and shoulders pattern with a view to falling below the 0.65 area.