Eurnzdsell
EURNZD (4H) - Triple Reasoning...I am liking the look of this potential setup on the EURNZD. We have a downward sloping resistance line, upward sloping support and horizontal resistance (role reversal) all coinciding with the same point (approximately). It is likely that we might see some volatility around this point with a lot of contradictory views over the importance of these lines - however, my bias is with the bearish trend already in action. Price has move 20 pips from the 100 SMA. We can use the SMA as we are in a trending market, and would think that prices might retrace back towards this line. I am looking for short opportunities - especially as previous attempts to move above 1.5468 level could not hold.
EURNZD roadmap... almost 500 pips up for the taking!Afternoon traders,
I trust everyone is enjoying their weekend and looking forward to the open.. here we have a great opportunity to get long on this pair in to previous structure with an attractive r:r
#roadtomonaco
Your comments and likes are always welcomed, thank you.
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