glennhowell

EURNZD | 75% of retail still short

Long
FX:EURNZD   Euro / New Zealand Dollar
69 views
6
Price is constricting steadily on the EURNZD , tightening up to a point around 1.7430.

Retail trade is 75% short, another steadily increasing bias. But price is going down as retail has been piling in - not a good sign for the short side.

Swing or position trading suggests the best move is to wait for a break above the upper trendline, personally I'm trading this one on an intraday scale, buying up intraday weakness.

Trade active: Off she goes

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