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Has the NZDUSD just formed an inverse head & shoulders?

 

We’ve previously mentioned the head & shoulders formation is the most reliable, today we put that to the test.

 

Our free signal;

BUY NZDUSD at 0.6599

SL 0.65630

TP 0.66180

As previously mentioned, the head & shoulders formation tends to indicate a long term change in direction. Will that claim hold today?

Although a retest of the neckline is a possibility, a stop loss has been placed beyond the 0.658-0.657 zone. if the neckline retest fails, we can expect a rally in the upward direction and a complete change in direction as expected.