EURNZD possible to start downtrend.

27 apr 2019

On this weekly chart we can see how price rejected from the 71.00 Fib. creating a nice legit shooting star pattern as a sign of reversal. Since the moving average is also still bearish imma wait to see how this pair reacts once the markets open at Sunday night. A clear break and close below the monthly support of 1.6700 would be a nice confirmation for the downtrend, however, I could still see price to test the highs again around 71.00-61.80 Fib. before turning around and break below. Possibly creating a 3-pin bar pattern.