Short Opportunity on EUR/NZD after the recent pullback

A potential short set-up has been identified after a new low of 1.63298 printed on 5th Dec 2018. This pair has made a recent pullback of almost 700 pips and price has potentially reached a prior resistance zone of 1.7030. EMA 200 is also acting as another form of resistance. Big volumes are distributed at this zone as we approach the set-up having an idea that this level will be defended by institutions.

Looking to short this pair so long as the price do not breach 1.7160 which will otherwise invalidated our trade set-up. The level we are looking to potentially securing our profits will be at our TP 1, a break to the downside closing below the EMA 50 might see price testing the next level of support at 1.6710.

EP: 1.7030
SL: 1.7160
TP 1: 1.6910
TP 2: 1.6710

We will look to update our analysis on a regular basis and to also learn from our trade set-up continuously.

Good luck in your trading journey!

Best Regards,
NourCapital - Tracking Smart Money Flow

Trade closed: target reached:

TP1 Hit!

Trade active:

Price has closed below the moving average but with thin volume. It is safe to shift your stop-loss to minimum break-even point if you have earlier hit the first targeted TP.

Good luck in your trading journey!

Best Regards,
NourCapital - Tracking Smart Money Flow

Trade closed: target reached:

TP 2 Hit!