logo

FX.co ★ NZDCAD M5: Inverse Head and Shoulder

NZDCAD M5: Inverse Head and Shoulder

Inverse Head and ShoulderAccording to the chart of M5, NZDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8073 while the median line of the Neck is found at 0.8060/0.8065. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDCAD will go towards 0.8088
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
Go to the patterns list Go to graph