ETGF-FX
Long

EURNZD LONG IDEA

FX:EURNZD   Euro / New Zealand Dollar
Hello traders!

Welcome to the new trading season of 2020!! I wish you a happy new year and a lot of success on your trading journey. The focused trading opportunity of the new week is EURNZD LONG TRADE.

EURNZD Daily:

On the daily, you can perfectly see how price found a supportive region ( demand zone ) after a meltdown of 1000pips!!!. I believe it is time for a retracement to the upside. Scaling down to the lower time frames such as 1hour, we have several LH's and HH's. I do want to see the push down to the hourly trend line confluences with the Fibonacci retracement 0.705%. If we can get a nice rejection of the market region, we can take a long trade to the marked TP levels.

Have a good one!


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DISCLAIMER:

Technical analysis is for the educational porpuses if you will take the trade, take within your own analysis and your own opinion.


Kind regards,

ETGFX Team

ELITE TRADING FX

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