By: FxRenew
Currency Pair: NZD/USD
Direction: Short
Trader Comments : Looking at the rally from kiwi on a daily chart, we have been anticipating a bearish pattern and daily candle with a bearish close combo. Yesterday's daily candle closed with a large shadow on top with a red body. Going to a 60-min time frame, a Head and Shoulders pattern can be found. The second shoulder would be formed in the 0.8300-0.8360 range. We will be watching for a peak to enter a short trade with deep targets as this trade has long term potential.
