EURNZD may set up an inverted head and shoulder’s pattern.

One of our traders in our Forex Analytix community chat rooms (guyr) brought the EURNZD inverted head and shoulder’s pattern to our attention. Not only is that set up, but we are above the downtrend line and also with the false breakout three weeks ago below the 1.6300 level the risk of a turn higher is….well, high. A move above the 1.6630 level on a closing basis would be bullish.

EURNZD Inverted H&S

Blake Morrow