SanktuaryMAM

EURNZD (4H) - Triple Reasoning...

Short
FX:EURNZD   Euro / 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.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out