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After attaining multi month lows "@ 75.5 we have since retraced, persisting the 61.8.
A h&s could materialise for this pair for a nice R:R to new lows.
Monthly features consecutive spikes at 150 zone - However wiped out previous lows
Potential for a pullback for a far better entry
and then a minimum of a 200 drop pending
Shorts if TL breached
Can the bulls sustain control with the recent aggressive market correction?
2 potentials for EURNZD
may see a pullback or some consolidation which will enable us to take entry
VARIATION ON THE SETUP
Could achieved new LH and decline
Or further ascent upon the breach of the tl
WILL WAIT FOR MORE CONFIRMATION could go either way
short eur lh achieved ll expected
HOWEVER wait for close below red zone
higher tfs suggest euraud could be in for a 300 pip decline
70-90 pip downward move before further ascent.
Unless the HH HL momentum is breached and outer TL's are broken
SWING IT BISH ay