NZDUSD IS IN THE PROCESS OF MULTIPLE PATTERN FORMATION, KEEPING IT SIMPLE AS PRICE ZONE FOR BOTH PATTERNS ARE THE SAME.
X=7375,A=6816,B=7120 AND NOW IN THE C LEG OF THE PATTERN.
PRICE ZONE FOR C IS IDEALLY BETWEEN 7005-6930 HOWEVER IT CAN GO AS LOW AS 6850.
ONCE C LEG IS COMPLETED THEN PRICE TARGETS FOR D:
D=7312(886 OF XA) OR 7452(113 OF XA).
X=7375,A=6816,B=7120 AND NOW IN THE C LEG OF THE PATTERN.
PRICE ZONE FOR C IS IDEALLY BETWEEN 7005-6930 HOWEVER IT CAN GO AS LOW AS 6850.
ONCE C LEG IS COMPLETED THEN PRICE TARGETS FOR D:
D=7312(886 OF XA) OR 7452(113 OF XA).
Comment:
ALTERNATE Shark pattern in formation, upside resistance coming in at 7160(618), ideal price zone = 7312(886) or extension to 7452(113) for completion.
Comment:
Once the price closes Above 7160(618) the Bat pattern will be invalidated.
Comment:
NZDUSD is nearing upside resistance, price target 7260-7310, caution warranted as price could continue higher above 7260-7310 or consolidate from this price zone to lower.
Comment:
NZDUSD tagged price zone at 7310 and now lower 7185, it is venerable here around 7230-7240, however if it consolidates here then expect 1 more high to around 7260-7270 then it could either break down lower below 7185 to 7150-7130.
