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HayatoDragonFX

EURNZD, daily tf, double top with consolidation

Short
Euro / New Zealand Dollar (FX:EURNZD)  
HayatoDragonFX  
FX:EURNZD   Euro / New Zealand Dollar
Support and Resistance Trend Lines Chart Patterns EURNZD eurnzdshort eurnzdsell eurnzdanalysis priceaction priceactiontrading Bearish Flag Double Top
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supportandresistance trendline chartpattern eurnzd eurnzdshort eurnzdsell eurnzdanalysis priceaction priceactiontrading bearishflag doubletop

As you can see on the daily timeframe there is a double top pattern formed. Price already broken below the support with a big bearish engulfing candle. This upwards movement could be only a retracement before further drop in this pair.

Price spent several weeks consolidating inside 1.6820-1.6660 area which also looks like a flag pattern to me.

Sell EURNZD 1.6760
Stop loss 1.6820
Take profit 1.6400 (6R)

Use only 1-2% risk
Good luck

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