forextamil

EURNZD: Negative Vibe pulling the price range.

FX:EURNZD   Euro / New Zealand Dollar
It seemed as if EUR / NZD could test the trend last week which is still strong. Now that the pair is testing for lower levels, we are much safer. Look on the bearish candlestick , which sends a clear negative signal with a long upper wick formed by D1.

Furthermore, on H4 we see clearly a lower elevation and a possible "head & shoulders" pattern. In fact, 1.7200 is a tough resistance, so it is likely that it will fall back into the 1.70 zone and perhaps lower.

Signal Specification

Entry: 1.70400

Tp: 1.69900

Sl: 1.71261

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