This is a good opportunity to earn a good return.
The strong rally from 1.07 was due to the RBNZ Interest rate news.
The negative news had a bullish effect on this pair, causing a 300+ pip rally.
This rally is into an area where willing sellers overwhelmed demand.
Chances are, another fall is likely here.
The strong move up means there is no willing demand above 1.07.
This is good. It means that this should work to 5:1 return easily.
EP: ~1.11110
SL: ~1.11810
TP: >1.07610 (at least 5:1, 350 pips)
The strong rally from 1.07 was due to the RBNZ Interest rate news.
The negative news had a bullish effect on this pair, causing a 300+ pip rally.
This rally is into an area where willing sellers overwhelmed demand.
Chances are, another fall is likely here.
The strong move up means there is no willing demand above 1.07.
This is good. It means that this should work to 5:1 return easily.
EP: ~1.11110
SL: ~1.11810
TP: >1.07610 (at least 5:1, 350 pips)
