Hello fellow risk-takers,
The pair is EURNZD and buyers looks exhausted to penetrate key resistance levels in bid to form new higher highs (HH). Instead, what we see is the formation of lower highs (LH) indicating loss of bullish momentum AND impending sell-off. This sell-off is needed for bulls to gather new momentum needed to penetrate the price level 1.71240 which price is currently unable at the momentum unless we can have surprise high-impact news.
The pair is still bullish but in the meantime this selling opportunity looks too tempting for me to mize.
Happy Trading
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*This information is for entertainment purposes only and shouldn't be construed as investment advice.
The pair is EURNZD and buyers looks exhausted to penetrate key resistance levels in bid to form new higher highs (HH). Instead, what we see is the formation of lower highs (LH) indicating loss of bullish momentum AND impending sell-off. This sell-off is needed for bulls to gather new momentum needed to penetrate the price level 1.71240 which price is currently unable at the momentum unless we can have surprise high-impact news.
The pair is still bullish but in the meantime this selling opportunity looks too tempting for me to mize.
Happy Trading
______
*This information is for entertainment purposes only and shouldn't be construed as investment advice.
