Euro Fx/New Zealand Dollar FX:EURNZD


This is a follow up on speculation published earlier on this pair ( see link below for reference);

Tendency: Downtrend ( Bearish )
Structure: Flag | Rising Wedge
Observation: i. Price appears to be going through a correction move of the impulse leg XA.
ii. Correction move might culminate at resistance zone 1.74500 which will serve as retest.
iii . On the weekly time frame(see link below); Price appears to have completed correction move of impulse leg (Oct – Nov 2018) at 78.6%.
iv. Expecting the price to reject the resistance 1.74500 before the rally down.
v. Price below Moving Average
Trading Plan: SELL with TP1, TP2 and TP3 (225pips) and SL @ 1.75000/1.75000 zone.
Risk/Reward: 1/4.5
Potential Duration: 3 to 7 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

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Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
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Past performance is not necessarily indicative of future results.

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