Potential H&S Pattern

Apr 24, 2016

NZDUSD is probably forming a potential Head and Shoulder. It is very early to predict that pattern but on going formation is like H&S pattern. If it retrace from the current price to form the right shoulder that it will also correspond to 0.5 to 0.618 fib retracement of 0.705 (high) 0.68514 (low). If that happen and if it breaks neckline at 0.685 than potential target will be 0.659-0.661.