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Eurnzdsell

EURNZD- Short from 50% Fibonacci, Key Resistance and TrendlineEURNZD is keenly approaching my Entry zone that lays at the 50% Fibonacci aligned with my key zone and the well respected Trendline. Upon the retest of these Technicals i'm going to go short. Tomorrow there is an interest rate decision coming from the ECB (European Central Bank) at 12.45 GMT, meaning you may want to be careful entering and maybe await a higher push to the upside before entering as it may wickfish early sellers. As the BOE and Fed cut interest rates this foreshadows the same to potentially occur with the ECB.
Short
by Kaidk
2
Panic and fear propels EURNZD to new highs, Sell HigherDramatic sell-off in Wall Street has led to a sharp decline in the value of risk assets such as AUD, NZD and CAD. However, we can uncover potential opportunities amidst this panic environment. EURNZD is already up by over 800 pips in the last 10 days and it is expected to continue its uptrend a little more. However, soon it will face stiff resistance as I have indicated in my chart. So, smart traders will place sell limits in the resistance area at 1.7910-1.7980 with SL above the resistance area. If the sell set-up is valid, we can take profit at 1.67 area
by YourLazyTrader
12