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
Note
SL: = 2.17000
Entry: = 2.16600
TP: = 2.13965
ROI: = 6.23
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.