EURNZD - 17-22 Jan Week trade Plan

This is my 17-22 Jan 21 Week trade Plan for EURNZD .EURNZD

Previous Month : Bearish
Previous Week : Bullish
Daily : Bullish
4H : Bullish

- With all HTFs (M, W, D) are trending down, Monthly pointing to 1.6670 - Weekly pointing to 1.6770 and Daily currently bouncing from a solid support zone 1.6850/20.

- The COT report showing that 70% of institutional positions are Long NZD which is the highest since 3 years compared to 30% Short positions. This is translated on the chart with EURNZD sustaining it's bearish trend and we are seeing support levels broken every week.

- Seasonality showing that EURNZD should be strong during the first 2 weeks of Jan which had happened during the last 2 weeks and the highest to reach this month and weakness should be the theme for the remining of Jan.

- Through trading several Months EURNZD, I prefer to see retracements to any move in order to have a range to trade to target. So I recommend to Short after retracement or break and Resistance formation below broken Support and vise versa for Longs.

- We have important news for NZD on Tuesday and Friday, Also China is having very important news on Monday and Wednesday.
EUREURNZDHTFMomentum Indicator (MOM)NZDstructureSupply and DemandsupportSupport and ResistanceTrend Analysiszone

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