Eur / NZD - Nice 1h Pin - SHORT
I've sold this pair many times in the past few weeks, and with the current strength of the Kiwi and bearish nature of the Euro, this is an opportunity I don't want to miss out on, especially with crazy Friday approaching and an Asian overnight.
This pair are very bearish and we're currently running inside a decending channel, below previous support @1.675 and we've today rejected last nights open, with a nice 1h pin, all giving me a reason to short this pair, albeit short term down to 1.65
This pair are very bearish and we're currently running inside a decending channel, below previous support @1.675 and we've today rejected last nights open, with a nice 1h pin, all giving me a reason to short this pair, albeit short term down to 1.65
Comment:
Bull market today, we're going much higher after the EU PMI's came out as expected.
Comment:
We'll break out of the channel and up to the previous highs, looks like I'll be holding this one until next week for it to turn bearish.
Comment:
Small sell-off in the Euro right now and the Kiwi is rising, it's short-term at the moment or has the rally finished?
Comment:
Weakness on the Euro increasing on this pair, again, maybe just a pullback, but the Kiwi has risen above the Euro in the last hour
Comment:
I'm off out for coffee and cake with my good lady, speak in a few hours, we need Euro weakness and a bounce back of the Kiwi.
Comment:
Not there now, Euro is growing and Kiwi in slight recovery
Comment:
Look at the Blue line dropping faster than other currencies and the kiwi is almost above 1.0, a good sign for this pair, we need this to continue.
Comment:
Once this hits break even, the trade will close if that’s today. If not, I’ll hold over the weekend and see what the Euro is doing on open
Comment:
Trade remaining open ....
Comment:
Kiwi and Aussie $ are the strongest currencies this morning, followed by the Euro, so this may take a while, target down at the low of the channel 166 and then 164.5
Comment:
The Euro is running out of energy at the moment
Comment:
Today will be one of those days when trades are trying to find their levels, break levels and support new trends, you can see this in the aggressive moves happening very quickly.
It's incredibly important you stay patient for an entry, don't enter to just be in the market and if you've got a trade on a long-term, swing trade, be prepared to see larger sideways movements and therefore don't sit and watch them, don't enter with anything less than a 15m timeframe and preferable a 1h.
The Euro is strongish, but the Kiwi slightly stronger, forcing this pear to move sideways in an aggressive manner, my stops are now at breakeven on this pair, it's taken a while to get back into profit.
It's incredibly important you stay patient for an entry, don't enter to just be in the market and if you've got a trade on a long-term, swing trade, be prepared to see larger sideways movements and therefore don't sit and watch them, don't enter with anything less than a 15m timeframe and preferable a 1h.
The Euro is strongish, but the Kiwi slightly stronger, forcing this pear to move sideways in an aggressive manner, my stops are now at breakeven on this pair, it's taken a while to get back into profit.
Comment:
We're finally moving down, the Kiwi strength is working in our favour against a strongish Euro
Comment:
We have a nice candle forming on 4h and a descending wedge to take us potentially down towards 1.66 - 1.655
Comment:
This type of wedge is a reversal pattern, so we're going to grab our profits before we get beyond 70% of it, so around 1.66 is the target.
Comment:
Trade running a break-even, I'll let this run now
Comment:
Despite the Euro pushing for a comeback, the Kiwi responds in-kind, Bullish against the Euro, I don't think we'll have a problem getting to 1.66,
Trade closed manually
Comment:
Taken profits, poor US numbers will give the Euro a rocket up it's arse all afternoon
Use the open to get short with stops shown on the screen above the channel.