davesp1903

EURNZD Buy Opportunities

OANDA:EURNZD   Fx Euro/Dolar New Zealand
21 0 2
Now, EURNZD             has declined 800 pips since its top 4 weeks ago. The current price of 1.54 is ideal for the creation of a bottom.

The pair has declined in a perfect 2 waves which have reached the 100 level duplication.

Due to the timing of this bottom, should prices rise from here, we could enter a new bullish trend of 700 or more pips.

Build a long position from this level, or, more conservatively, wait for higher highs on the 4H chart and a pullback for confirmation.

Should this level fail, I expect another 450 pip decline.

-- dave
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