Monday, January 6, 2014

TRADE ALERT: EURNZD sell continues

After a high momentum sell off of euro across major euro pairs, more sell off is predicted by many speculators

EURNZD fell from 0.6970 and broke the support 0.6470 with a long bearish bar that signifies a high momentum breakout

Today this pair closed on consolidation with traders gathering momentum to decide the fate of this pair in the nearest term

The 4HR time frame showing different pin bars off 0.6470 thereby retesting it several timess without a head up. A bearish flag pattern is forming which can be better viewed on the 1HR time frame

I expect this pair to resume bearish movement giving that EUR has a bearish bias with NZD gathering some strenght for the bulls

I have placed a pending order below the pin bar formed on the daily time frame (above) with my stop loss some pips above it and targeting 1.6155

Hopefully i can get some pips


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Have a pipful day

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