Given the USD and EUR appear to be all over the place I have looked at this pair.
Appears there is a nice clear downward channel on the monthly chart - Looking at a nice short set up here from daily candles.
I might just look to wait for this days candle to close for confirmation but looking to be a nice strong bear candle.
Again, very new to all this and still very new to making my own analysis’ - just looking for honest constructive feedback.
Possible long set up on the EURNZD on the daily chart.
Couple of rejections at resistant. Will look for further confirmation on the support before I look to place a trade on this.
Risk/reward is sitting at 3
Let me know what you guys think 👍
Firstly, I’m very new to trading so I’m not expecting anyone to place a trade based on this.
I’m posting this mainly to see if anyone who is more experienced agrees with my idea So it can verify if I have found a channel in a bearish trend.
Let me know what your thoughts are about this please! Have I spotted a good opportunity or have I completely misjudged this??