EURNZD has made and inverse H&S between 2012 and 2017. Price looked to break this pattern in late 2018 , but failed at resistance of 1.79.
The pair have been on an impulsive move from 1.65 to 1.74 over the past 4 weeks.
It seems likely the 1.79 level will again be tested , and maybe late 2019 sees a breakout and retest of this key level.
IF so, I would change from a neutral to bullish weighting on this pair to a bullish viewpoint , with the next target at the swing high of 1.95 , which would fit with an equal extension of the H&S pattern.
This would likely be brought about , not by Euro strength , but likely weakness in the Kiwi brought about by an extremely Dovish RBNZ.....
The pair have been on an impulsive move from 1.65 to 1.74 over the past 4 weeks.
It seems likely the 1.79 level will again be tested , and maybe late 2019 sees a breakout and retest of this key level.
IF so, I would change from a neutral to bullish weighting on this pair to a bullish viewpoint , with the next target at the swing high of 1.95 , which would fit with an equal extension of the H&S pattern.
This would likely be brought about , not by Euro strength , but likely weakness in the Kiwi brought about by an extremely Dovish RBNZ.....