ForecastCity
Short

There is a great opportunity to sell in EURNZD

FX:EURNZD   Euro / New Zealand Dollar
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.7115 would begin in Midterm.

Trading suggestion:
Price is in the Sell Zone (1.7295 to 1.7480).
We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Beginning of entry zone (1.7295)
Ending of entry zone (1.7480)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:


Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.7485 on 08/10/2018, so more losses to support(s) 1.7295 and minimum to Major Support (1.7115) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 60.

Take Profits:
TP1 = @1.7115
TP2 = @1.6965
TP3 = @1.6815
TP4 = @1.6565
TP5 = @1.6355
TP6 = @1.6205
TP7 = @1.6010
TP8 = @1.5655
TP9 = @1.5255
TP10 = @1.4535
TP11 = @1.3875
TP12 = Free
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