EURNZD trade idea(1:15 RR)
EURNZD has shown a strong impulse upwards and the 7 day bullish streak might be indicating to overextension, as we are currently facing a major resistance level on the daily chart. In the mid August the price hit 1.86(VWAP high) and since then the price has made a weekly 3 wave impulse downward. October gave us a retracement and now its time for another wave downwards. We are targeting the lows of the past week making it 1:15RR. Keeping stops above recent highs.
This analysis is taught and provided by Fractals Trading.
Trade safely and expect the unexpected,
Mei
This analysis is taught and provided by Fractals Trading.
Trade safely and expect the unexpected,
Mei
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