TradingView
TheTradersAvenue
Jun 20, 2022 10:15 AM

EURNZD > Breakout to The Downside Is Possible!? Watch for Sell Short

Euro Fx/New Zealand DollarFXCM

Description

Analysis of #EURNZD


The EURNZD failed to break to a new high as you see on the chart and now spending too much time at its trend line support which to me indicates no desire from traders to buy the support which could lead to EURNZD giving up support and breaking to the downside.

if indeed the market breaks and closes below structure support I will take this opportunity to look for sell if the market makes a retracement to its trend line or previous swing, depending on the price action

________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.


Thanks for your continued support!
Comments
TopTradingSignals
Quality post mate!
ProSignalsFx
Noted bro, lets see how it goes!
JoeChampion
Nice!
FOREXN1
Thank you for your Idea :) We are Long here .
RSquaredXD
I agree. I was looking for bullish setups and they proved invalid. This analysis makes much more sense! Great Job!!
TradingExpertFx
Good work!
VasilyTrader
Noted, thank you!
Solldy
I think that today we should see how the day will close and then place limit orders to gain a position. Good idea!
UnitedSignals
Great charting style, thank you!
CryptoCheck-
That seems like a highly likely scenario. Thank you!
More