Taking advantage of the pullback again before this pair possibly resumes going down to 1.40. Setting up a buy stop order now few pips above previous period's base fib and pivot lines, with TP at R1 fib (green dotted line) and SL near current period's base fib line.
D:
W:
Confidence: B (since it's just riding the pullback again)
good luck, but what if it went above 1.51, should that not make the pair go to 1.40?
aiza_belle
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@AmjadFX, I'm not sure about 1.51, it can go ranging still from there. But 1.53 (based on daily chart maybe) might mean that the current bearish trend in higher time-frame charts is broken and EURNZD has recovered and reversed at 1.45 instead of going down further to its April 2015 low (1.40) and bouncing from there.