EURNZD is setting up for a possible bearish move down to any of the 3 targets listed below. Although this pair has been in a beautiful uptrend over the past 5 months, it will end sooner or later. RSI has been flashing some negative divergence for 3 months, that alone is not enough to act upon. We will be waiting to see a daily close below the lower uptrend line by more than 50 Pips before initiating our swing position.
Targets are listed in blue at 1.67852, 1.63632, 1.60116 and 1.54088. Stop can be placed with a daily close above 1.80070 or if you'd like to risk more, a daily close above the upper trendline.
Targets are listed in blue at 1.67852, 1.63632, 1.60116 and 1.54088. Stop can be placed with a daily close above 1.80070 or if you'd like to risk more, a daily close above the upper trendline.