In this market, the bears have strong momentum to the downside with the most recent price action breach the 200EMA. Looking across to the EXY index it clearly shows correlating weakness for EUR meaning that a change of bias has been confirmed. Fundamentally I am still a bear on USD/Dollar due to the FED and rates, but given the more contemporary state of play if a...
See linked EURNZD, up over 100 pips already with profit taken.
Past resistance (past TP) has broken and now acting as support (red line)
Entry @ new support of 1.7978 area
TP @ 1.8196 area
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