RLinda ! NZDUSD-> Several patterns indicate an imminent decline

15 feb 2023

The NZDUSD is about to exit the uptrend channel, and several patterns indicate an impending fall. What's next?

Price is forming a pre-break consolidation after testing the support of the uptrend channel. After a strong drop from last week, price forms a bearish flag and in a four-hour candlestick breaks the indicated line under the pressure of MA-50.

I assume that in the nearest future, after the pattern activation, we will see a drop in the short term to the level of 0.62000, and in the medium term the price may fall to the area of 0.60580

Sincerely R. Linda!