Eurnzd Sell Setup
Updated
Eurnzd Sell Setup
I am on sell again from 1.70878 with 100 pips stop!!!! My friday setup was stopped out but I still think it is in consolidation and move downside is likely... So keeping that in mind I entered short again as it is getting good resistance from daily 200 sma from 171 and 100 sma on daily at 171.13..
It is above daily middle bollinger band and higher band is at 171.74.. on 4hr it is still above 20 ema and mcad showing bullish momentum but eurnzd now is in between good resistances so choppy price action will remain intact... I am thinking move towards 169.2 and 168.8/5 is possible as it is now at daily resistances. Overall.. it is still in bullish consolidation and even move towards 168.5 can again push it towards 1.73 and high..
Lets see how this plays out as I am trading resistances. Break of 1.705 will confirm bearish momentum towards 169.6 and below..
I am on sell again from 1.70878 with 100 pips stop!!!! My friday setup was stopped out but I still think it is in consolidation and move downside is likely... So keeping that in mind I entered short again as it is getting good resistance from daily 200 sma from 171 and 100 sma on daily at 171.13..
It is above daily middle bollinger band and higher band is at 171.74.. on 4hr it is still above 20 ema and mcad showing bullish momentum but eurnzd now is in between good resistances so choppy price action will remain intact... I am thinking move towards 169.2 and 168.8/5 is possible as it is now at daily resistances. Overall.. it is still in bullish consolidation and even move towards 168.5 can again push it towards 1.73 and high..
Lets see how this plays out as I am trading resistances. Break of 1.705 will confirm bearish momentum towards 169.6 and below..
Note
4hr with TrendlinesNote
Eurnzd Monthly...Note
I am quitting this setup.. After audnzd breakout.. Nzd rate cut is coming and I am expecting nzdusd towards 1.63... Quitting with small pips!!!!
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