FX:EURNZD Euro Fx/New Zealand Dollar
EURNZD has pulled back to its 50 , in the context of a downtrend. We also see some signs of reversal forming; the May 21 candle in particular -- an off resistance whose high has not been breached since -- could be viewed as a checkmate. As such, I've put an order to short at 5995, with my stop at 6040 and my target profit at 5750. I'm risking 45 pips to gain 245, so my reward/risk on this setup is approximately 5. 44 .