The M5 and M15 time frames may have more false entry points.
FX.co ★ NZDCAD M5: Inverse Head and Shoulder
Signal strength 1 of 5
NZDCAD M5: Inverse Head and Shoulder
According 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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade