FX.co ★ NZDUSD M5: Bearish pennant

The Bearish pennant pattern has formed on the NZDUSD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.6048; the projection of the flagpole height is equal to 21 pips. In case the price breaks out the pattern’s bottom of 0.6048, the downtrend is expected to continue for further level 0.6033.