NZDUSD has been stuck in a range for the past few days after a minor fall from a supply zone.
The range has been identified as a distribution and it is currently at it's final stages after jumping across the creek (JAC) and showing some signs of strength (SOS) with an accompanying rise in volume.
With the first LPSy formed what we are now waiting for is for...
The pair's price broke out of the rising trend line (demand line) after forming a 'HEAD AND SHOULDER' pattern and has been consolidating for some time now.
The pair's price is also falling while respecting a falling trend line (supply line).
You should be monitoring to see if the price breaks the support zone of the consolidation box and wait for a 15 MINUTES...
