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Mihai_Iacob
Apr 26, 2021 4:39 AM

EurNzd- To resume its downtrend? Short

Euro Fx/New Zealand DollarFXCM

Description

The trend for EurNzd is clearly down and after correcting and confirming 1.7 as strong resistance (twice) the pair started to roll back to interim 1.6650 support
A break here would also confirm a double top formation and give scope to a retest of 1.6350 low.
Rallies should be sold and only a clear break above 1.7 would negate this bearish scenario
Comments
jazerbay
Very good point, thank you for sharing!
Mihai_Iacob
@jazerbay, Thanks for comm
jitekajal
shorting could be dangerous i prefer wait and watch for long
Gustavo1111
financialflagship
Great forecast, thanks a lot. 🙌
Henry_Ross
Total agree, thank you!
MMBTtrader
after breaking trendline fall is expected as mentioned

thanks for sharing
CobraVanguard
Simple and Perfect! Thanks
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