NZDHKD Forex Tickeron detected bearish FOREX Pattern: Cup-and-Handle Inverse on June 12, 2024

Cup-and-Handle Inverse
NZDHKD - New Zealand Dollar - Hong Kong Dollar
Emerged: 06/12/24
Breakout: $4.77
Price: $4.81
Target price: $4.7
A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for NZDHKD stock. This pattern was detected on June 12, 2024 . The odds of reaching the target price are 6. The Inverted Cup-and-Handle (sometimes called Inverted Cup-and-Holder) pattern forms when prices rise then decline to create an upside-down “U”like shape (1, 2, 3, also known as the Cup), followed by a shorter relatively straight price increase that bounces from the right lip (from 3 to 4, creating the Handle). Consider selling the security short or buying a put option at the downward breakout level. The confirmation move is the breakout of the price below the right cup lip.
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