OANDA:EURNZD   Euro / New Zealand Dollar
as we can see here on the EUR/NZD chart that the market was previously trending in an uptrend for quite a while. until the market then came and used a previous resistance level as support then bounces back up (as expected in an uptrend), from here the market attempted to break into new areas but failed, after the fail of the break, the market came back down strongly and broke past down the previously broken support level. at the point after the break through to the downside, the market came back up to then test twice this new resistance level (called a double top). because of the nature of this pattern, we should be looking for a sell to the downside to new areas because we have confrmed market structure and confirmation that the market had failed to move back up, so it will move down, hopefully in our favour.
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