Get started
TradeItSimple

EUR/NZD Bouncing lower from 2 year falling trendline resistance

Short
Euro / New Zealand Dollar (FX:EURNZD)  
TradeItSimple  
FX:EURNZD   Euro / New Zealand Dollar
EURNZD Falling Wedge Trend Lines
7
0
eurnzd fallingwedge trendline
EURNZD

The rate is currently experiencing a sharp sell-off after testing the resistance from a falling trendline dating back to 2015.

Although the current formation (contracting falling wedge) would leave me cautious when shorting the pair, a smaller short term short position to target the yearly lows around 1.4700 could work nonetheless.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.