SanktuaryMAM
Short

EURNZD (4H) - Triple Reasoning...

FX:EURNZD   Euro Fx/New Zealand Dollar
I am liking the look of this potential setup on the EURNZD             . We have a downward sloping resistance line, upward sloping support and horizontal resistance (role reversal) all coinciding with the same point (approximately). It is likely that we might see some volatility around this point with a lot of contradictory views over the importance of these lines - however, my bias is with the bearish trend already in action. Price has move 20 pips from the 100 SMA . We can use the SMA as we are in a trending market, and would think that prices might retrace back towards this line. I am looking for short opportunities - especially as previous attempts to move above 1.5468 level could not hold.
United Kingdom
United States
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out