Roker1
Short

Is Euro about to fall? I think so!

FX:EURNZD   Euro / New Zealand Dollar
Hi guys,
here you can see the 4hr chart on EURNZD , i'm about to short this market and i'll briefly explain you why: firstly, the black line stands for a daily & weekly level of structure, that acted as support in the past, secondly, the RSI is overbought in this timeframe and it's showing some divergence on the daily chart . In addition to that, there's an AB=CD Pattern (with 1,618 extension) that's already completed (however in this large timeframe we can have some buffering before reversing). The last but not least signal comes from the chart itself, in the form of an engulfing candle (highlighted with the red arrow).
As you see, there are multiple reasons that make me think it's an interesting opportunity. But i want to get a better RR ratio so i'm waiting to see a pullback in order to get my entry.
Stops above 1,62. Targets with structure.

If you want to ask questions or share your view, feel free to comment below.
Otherwise, see you in the next chart!
May 17
Comment: If you want to play it conservatively, wait for this:
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
I believe that a very bearish pin bar is forming at the key resistance level in and around 1.61473?

Feel as if that could be nice to pay attention too, I may enter on 50% retrace and set my stop above the resistancel

But yeah I agree this looks like its going down :)
+1 Reply
Roker1 Tinotenda96
@Tinotenda96, glad we're on the same page! Let's see.
Reply
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