NZD/USD Multi-decade head and shoulders formation

Long term historical charts of NZD/USD are looking quite bearish from a technical point of view. This multi decade head and shoulders formation could be starting to break down. The head is a nice looking double top as well Price target of .50 over the next 12 months. Lines up nicely with a trend line, the lows in 2009 and the .786 fib from the all time lows to the highs in 2011.

Side not - all the de-Dollarization doom narratives being parroted in recent months seem to be offering a massive contrarian indicator unlike anything I have ever seen. Time to get long USD

Kommentar:

We have all been given a gift to one of the greatest short opportunities of the decade. Short NZD/USD here and take it down to .50

Kommentar:

Still absolutely think this could happen by year end, Still sating short. Adding significantly if it breaks the 2020 and 2022 lows. Target .50 then buying massively