FX.co ★ NZDUSD H1: Bearish pennant

The Bearish pennant pattern has formed on the NZDUSD H1 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.6226 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.