FX:EURNZD   Euro / New Zealand Dollar
Learn 2 trade like a PRO for FREE! - the Fontera milk auction price was upgrade last week which caused a rally on the NZD You can see the break out of the rising channel on the EURNZD             currency pair and the lower highs inside the channel before the breakout. The engulfing candle confirms the downside is underway and I only wish I had seen this at that time. The only option now is to wait to see if we get a pullback to the R1 where we can resell with a stop above the engulfing pattern. NO PULL BACK THEN NO TRADE why - because the stop loss needs to be huge! even with the pull back we are looking at 230 pip stop but the riske reward ratio is still over 3:1
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