On the NZD/USD daily chart, quotes went out from the upward trade channel and from the triangle.
It is the first signal of a reversal of the trend. If the “bears” test the neckline of the “Head and shoulders” pattern, the quotes may fall towards 0.68.
There is 127.2% target of the “Perfect butterfly” pattern.
On the NZD/USD hourly chart, the target 88.6% in the “Shark” pattern has been fulfilled. It can be transformed into 5-0 pattern. Correction towards 23.6%, 38.2%, and 50% levels can be used for opening short positions.
Recommendation: SELL 0,7176 SL 0,7231 TP 0,68.
Origin: FX BAZOOKA
