GBP_NZD (260 Pips)
A double top formation on the weekly timeframe, combined with a close below the previous week's high, plus a week showing lower highs and lower lows - this typically suggests bearish momentum is building.
Here's why:
Double top: This is a reversal pattern showing price failed twice to break above a resistance level
Close below previous week: Indicates sellers are gaining control
Lower highs/lower lows: Classic definition of a downtrend beginning to form.
The likely direction over the next week would be downward, as these are multiple bearish confirmation signals occurring together.
End of week Target: 2.13965
Here's why:
Double top: This is a reversal pattern showing price failed twice to break above a resistance level
Close below previous week: Indicates sellers are gaining control
Lower highs/lower lows: Classic definition of a downtrend beginning to form.
The likely direction over the next week would be downward, as these are multiple bearish confirmation signals occurring together.
End of week Target: 2.13965
註釋
SL: = 2.17000
Entry: = 2.16600
TP: = 2.13965
ROI: = 6.23
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