As drawn, when price retraces to the trendline and horizontal intersect, buy and watch price breakout. Today's impulse is strong and i don't think its a bear flag. There's not much room for further downside anyway. We're talking potentially ~200 pips of retracement next week.
Been trying to catch the bottom for this pair, got stopped out 4 times each 10pips loss. The 5th finally paid off and now in 100pips profit. The pair has sold off extremely strongly and a retracement is overdue
However, since nzdusd has clearly broken out of its trendline, we're likely only gonna get a retracement as both eurusd and nzdusd is only retracing. The fundamentals point to further downside, but oversold conditions warrant a short-term pullback.
Been trying to catch the bottom for this pair, got stopped out 4 times each 10pips loss. The 5th finally paid off and now in 100pips profit. The pair has sold off extremely strongly and a retracement is overdue
However, since nzdusd has clearly broken out of its trendline, we're likely only gonna get a retracement as both eurusd and nzdusd is only retracing. The fundamentals point to further downside, but oversold conditions warrant a short-term pullback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.