Envious_

EURNZD Short Idea

Short
OANDA:EURNZD   Euro / New Zealand Dollar
EURNZD has recently had a insane push upwards which will need correcting soon, we can see to the left that this has corrected the bearish push downwards that went into the discount zone where we expect most buyers to come in. Price has now reached the premium zone and shown that it wants to come down as selling pressure has increased and price is creating a lower high compared to its previous highs. A 61.8 fib has been placed on the chart to show the area where you could possibly enter based on retracements or you could wait until price reaches the premium zone again however I believe this will be unlikely. I hope this idea helps and good luck traders :)