Failure of Complex Pull Back

Panjang

Euro / Dolar New Zealand (FX:EURNZD)

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FX:EURNZD Euro / Dolar New Zealand

The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , down trend was resumed until prices failed to go down at midpoint of "A" "B" wave. A reversal bullish candle formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618 levels.

Komen:

Kindly take good care @ area 1.7100 to 1.7200, where it is the midpoint of the monthly bearish engulfing candle. Reversal could be at this area to the down side.
GOOD LUCK TRADING..

Penafian

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