NZDUSD is quite a good pair to trade and a very volatile one at the same time. Its quite dependable at times on solid setups. But previously it was in a very strong bullish trend.
As we know what goes up must come down eventually at some point. The pair firstly gave us a Head & Shoulder trend reversal pattern to indicate that the bullish trend is ending. The pair broke out of the bullish trendline which was at a very strong support level and crossed it. The pair came back to retest the zone, thus giving us a bearish flag continuation pattern that we are going to expect further more selling opportunities.
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