Update from last week's EURNZD Weekly chart analysis:
Trade is up 100 pip from first entry.
We now have a strong bull candlestick closed on the daily, another confirmation of upwards movement.
Indicators:
1. EURNZD in upward weekly channel, support has held.
2. Stochastic RSI on weekly and daily in buy zone.
3. Strong Bull candlestick closed on daily 07/13/2020.
Entry:
Wait on retracement on a shorter time frame 2hr or 4hr around 1.7300 area.
Next resistance level at 1.7540 for a shorter term TP level.
TP 1 and TP 2 remains the same.
Good luck trading!
Charles V
CVFX Management
Trading made simple.
Trade is up 100 pip from first entry.
We now have a strong bull candlestick closed on the daily, another confirmation of upwards movement.
Indicators:
1. EURNZD in upward weekly channel, support has held.
2. Stochastic RSI on weekly and daily in buy zone.
3. Strong Bull candlestick closed on daily 07/13/2020.
Entry:
Wait on retracement on a shorter time frame 2hr or 4hr around 1.7300 area.
Next resistance level at 1.7540 for a shorter term TP level.
TP 1 and TP 2 remains the same.
Good luck trading!
Charles V
CVFX Management
Trading made simple.
Comment:
Good re-entry at current price of 1.7360 area. Expecting this to go to 1.7650 to 1.7600 area.
