EURNZD SELL [technical analysis] - 15-MAY-2020

NOW seems like the bulls have run out of gas. The bears are planning to push the prices lower, in two faces. Down from 1.8135 to 1.8061 where a consolidation will happen. We shall set a trailing stop at breakeven one our first TP level (1.8061) is hit. Then before the close of the markets, we could see the bears hit a home run (expecting one or two large candles) to 1.7880 or thereabouts.

RISK/REWARD RATIO: 9

Comment:

TP1 was hit