17 Mar 2016
Bearish AUD/NZD pattern with a positive note
The hanging man pattern from the day before yesterday on the AUD/NZD chart, continues to indicate a potential topping structure into the next days or weeks.
The ROC oscillator is showing a bullish bias as it drifts towards the upper limit above 3. Even though the bears have the edge right now based on the pattern interpretation, chartists should always be prepared for an eventual bullish trend continuation when it comes to a hanging man as it's long lower shadow is certainly viewed as a positive development.
The ROC oscillator is showing a bullish bias as it drifts towards the upper limit above 3. Even though the bears have the edge right now based on the pattern interpretation, chartists should always be prepared for an eventual bullish trend continuation when it comes to a hanging man as it's long lower shadow is certainly viewed as a positive development.