trading plan for euro new zealand: channel breakout and h&s

hey traders,

very nice setup to trade on euro new zealand.

though pair is very bearish,
we see how bullish pressure is rising after the market has reached 1.63 support level.

the market was trading inside a falling parallel channel and now we see a potential bullish breakout of this channel
and formation of an inversed head and shoulders pattern.

I will be waiting for bullish violation of a neckline to buy the market.

my initial target will be around 1.68
and the second around 1.69

good luck!

Kommentera:

test of the neckline