Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
On the EURNZD daily time frame, we can see its breakout the final resistance created last year in December. We also found its breakout a Ninety-degree reverse shield pattern as well :D. We are expecting a further bullish move starting the current price zone.
Welcome to our Trade Setups - May 24th ( EURNZD ) !
ENTRY LEVEL @ 1.69583
SL @ 1.71084
TP @ 1.65082
Max Risk: 1% - 3%!
Risk/Reward Ratio: 3
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EUR/NZD: Daytrade-preparation!!! LONG
Market-BUY : 1.77200
Stop-loss : Close Break 1.76800
Target1 : 1.78350
Target2 : -
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We can see that this finally broke out and is now going to retrace, I am waiting for price to respect one of the Fibo levels before I place a buy to the top!
This can be sold from this level and im going to guestimate TP will be around the 50.0 level