joni.rcunha

EUR/NZD: Expecting retraction to get long

Long
FX:EURNZD   Euro / New Zealand Dollar
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

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.