lukelehepuu

EURNZD REJECTED FROM RESISTANCE

FX:EURNZD   Euro / New Zealand Dollar
90 0 13
Price rallied into the resistance level at 1.5677 and then got rejected (point 1). Price has now fallen away from this level. If we break below this yellow support level , I feel a drop down to 1.5000 is possible. HOWEVER, we are now trading above the centre line on the Stochastic indicator which is a sign of bullishness.

So, trade small, use low leverage and keep your stops there.
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