-Price has been in a consolidation since 20th April.
-We should wait for a retracement of the supply/liquidity zone to look for a short setup.
-According to the algorithm, price could drop down 1.00% in the next 25 days.
-There is high impact news on retail sales for AUD on Monday 10th .
💡 Trade Idea
📉 Sell EUR/NZD @ 1.7030
🎯 Target Profit 1.6821
🛑 Stop Loss 1.7097
❌ Do not risk more than 1% of your account on each trade
🙂 Good Luck!
The price is trading within a bearish channel. It posted a higher correction towards the 1.7056 previous support. Now, our expectation is a move to the downside since it was rejected from the resistance...
- Very good opportunity to go for a short position on this pair at the reversal of the supply zone.
-Another confluences is the EMA is above price which shows bearish trend of the pair.
-Wait for a strong bearish candle at the supply zone and enter the trade.
Let's see what happens during the week!
-If Bulls take control of this pair then I will wait for a breakout of the triangle and look to enter on the retest.
-The 50EMA is below price which indicates bullish trend of the pair.
-Top down analysis from the Daily and 4 hour show bullish trend and signals.
-I will wait for a strong bullish candle on the retest and then I will enter a long trade.
-Looking to short this pair on the reversal of the 61.8% fib level which is also in confluence with the supply zone.
-Price is also below the EMA which indicates bearish signals.
-Top down analysis from the weekly and daily show a bearish trend.
-Very good opportunity to go short of this pair.
-Lets's see what happens during the week!
-Very good opportunity to enter a short position on the retest of the supply zone which is in confluence with the 23.6% fib level.
-Another confluence is the EMA's which show bearish signals as price is below both EMA's.
-Top down analysis from the weekly and daily show bearish signals which gives me confidence the bears are in control of this pair.
There is a good opportunity to enter long on this pair just waiting for a retest on the daily demand zone and look for bullish candle confirmation.
Drop down to the lower time frame and enter a long on the pair.
The potential risk to reward ratio on the trade will be a 1:2 ratio.
Lets see what happens near the end of Friday!