adriel.arrasmith
Long

EURNZD Targets 1.79 area

FX:EURNZD   Euro / New Zealand Dollar
The Euro             has got a huge increase lately of euro             longs based on the COT report and that technical break via EURUSD             is apparent. Also, the retail crowd is strongly short, which helps piece things together even more. From a technical perspective I really like playing the Euro             against the NZD because we are in a huge bull flag pattern that points to the next major resistance level of 1.79 based on resistance and the flag pattern measured move. I entered upon the break of the flag pattern and have about a 80 pip stop loss on it, which offers up to 13:1 on this trade if we hold all the way thru and make it to 1.79.
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