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simontien
Aug 10, 2014 12:30 PM

EURNZD 1D: double top into resistance level Short

Euro Fx/New Zealand DollarFXCM

Description

Looking closer at this pair by using a lower timeframe (4h), a double top with bearish RSI divergence is in place.
On the daily chart the pair is retesting a nice resistance level.

Action: sell at market
T1 38.2% Fib retracement of the last swing high
T2 50% Fib retracement of the last swing high
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