joni.rcunha
Long

EUR/NZD: Expecting retraction to get long

FX:EURNZD   Euro / New Zealand Dollar
69 0 2
At the daily chart I see a bearish diverge on RSI and so, I expect to see a bearish move in the next days into the zone of 38.2 A-B Fibo retraction. In this zone we can see a support structure and an 50.0 X-A Fibo retraction. So, maybe this is the killzone to expect a retraction and maybe get a long position. Projecting the Fibo Expansion from A-B, we see the 127.2 level as the target to achieve because is the right point of last resistance. Stop at 1.4325 area (to monitor and perhaps adjust)
P&L Ratio = 2
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