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EUR/NZD: Head And Shoulders Pattern In Play

09/29/2022

Less than a minute

2022.09.29 10:27

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Scott Barkley

Bearish: currently at 1.7065, and finally, the head and shoulder reversal pattern is in place. We have divergence for the down move.

appears to be flipping finally, so if we can break the Slope support here, we are looking for a move to the ATR level at 1.6837.

Watch the USDX for any change in direction. The ATR for the pair currently is 168 pips per day, and its 180-day average is 170 pips per day. USDX is currently attempting up.

EUR/NZD price chart.