Sunday, June 1, 2014

EurNzd Update

If you have been following this blog closely, you would have noticed that this pair has not yet reached the minimum projection level for wave 5 mentioned on 29th April ( read here) .

The wave 5 move started strongly expectedly didn't go straight to hit 1.56s and below, which are the projected levels.

Presently, we have an abc 61.8% gartley zig-zag correction pattern resting on a strong resistance and with D1 formed a pin and a doji candles at this level, it's not poor thinking that Eurnzd might soon fall and 1.55s are the targets.
 An aggressive trader might want to sell from here while a conservative one would wait for a break of 1.5935 support formed by the up trendline on 4H.
 I will wait for my entry parameters before activating a sell and take profits at 1.5780 and 1.5550.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor or fund manager
Facebook- sanmi Adeagbo
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