FX.co ★ NZDCAD M5: Head and Shoulders

NZDCAD M5: Head and Shoulders

The NZDCAD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.9089, the Neckline and the upward angle are at 0.9078/0.9076. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of NZDCAD will go towards 0.9061.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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