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Euro / New Zealand Dollar

EUR/NZD - Interesting Setup on the road

By 3nchev
Updated
It will be great trade , it's early however. We are currently trading below Monthly Resistance and above Weekly Support. Price is between two very important levels , price can go up sharply , down as well. I will stay out for now and Will watch this currency pair with caution. My idea is , If we see Weekly Close above Monthly Resistance (1,64500) , we can see further bullishness to Monthly Resistance. However we need Better than expected Fundamentals from Eurozone to support our views. It will be great trade , 1000 pips. 1.65000 - 1.75000
Note
Price is forming something like triangle , be careful guys. We can stay in this consolidation for 1 year.
Don't rush trades , only trade when there's clean probability of success.
Note
If we break below weekly support (BlueLine) and hold there , then we can sell only if there's good Risk/Reward scenario.
Note
Follow the Market , not Me !
EURNZDeuroneweraperspectivenewzealandsetup
3nchev

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