H&S pattern established at the peak of the uptrend (we may also consider it a distribution phase)
50% correction
LHs & LLs
Aggressive impulse downward, forming a LL at the 1.710 psychological zone
50 SMA has now become a dynamic resistance
50% correction
LHs & LLs
Aggressive impulse downward, forming a LL at the 1.710 psychological zone
50 SMA has now become a dynamic resistance
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Full EURNZD analysis:
