Swing: Bearish view on EURNZD (08/04/19)

We should expect volatility on the EUR pairs with pending news announcement from the Eurozone on their Refinancing Rate and Monetary Policy Statement. ECB President Draghi will also be speaking this coming Thursday at 8.30pm (SGT). On the technical front, EURNZD is approaching the prior support turned resistance zone at 1.6712 having closed above the EMA 50. We do expect some form of resistance to stop price from accelerating with the next resistance zone at 1.6830, a confluence level with coincided with the EMA 200. We are looking for a short set-up so long as price do not close above the EMA 200.

Trade Set-Up:

EP: 1.672
SL: 1.686
TP: 1.6360

Best Regards,
Nour Capital - Tracking Smart Money Flow

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