Looking @ the Published Chart. I will be using the Price level of 1.7740 has my inflection point.
I have expectation for continuation to the UPSIDE in as much as we stay above 1.7740.
I expect the following scenario:
If the Market OPEN in BALANCE right where it closes last week,
a) I expect us to test 1.7743,bounce off from here and resume the buying of EURNZD and...
The volumes created during upside move by buying activity on the 09.10. The level 1.3112 is slighly lower as I believe there is significant support there.
I think when the price return to this level the buyer will be active again to defent their positions.
TP = 10
SL = -12
Volumes created NEAR the POC of yesterday followed by sellers driving the price down. I think when the price returns to 1.2500 sellers will defend their positions. So we can short from this level .
TP/ SL stratedgy
10 - TP
-12 - SL
yesterday price blew passed that level I think because of weak Brexit data. But during US session bulls pushed the price back up and even higher. This is showing good strength and at least temporary uptrend.
The level GU 1.3226 Long was formed again during buyout. This price level looks significant to me, therefore when the price comes back to this level again,...