SHORT There is a great opportunity to sell in EURNZDMidterm forecast:
While the price is below the resistance 1.7820, beginning of downtrend is expected.
We make sure when the support at 1.7380 breaks.
If the resistance at 1.7820 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Trading suggestion:
Price is in the Trend Hunter Sell Zone (1.7480 to 1.7705).
We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1.7480)
Ending of entry zone (1.7705)
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
Technical analysis:
The RSI bounced from the resistance #1 at 80 and it prevented price from more gains.
The RSI uptrend #2 is broken, so the probability of beginning of downtrend is increased.
The RSI support #3 at 50 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 1.7730 on 09/26/2018, so more losses to support(s) 1.7480 and minimum to Major Support (1.7380) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.
Take Profits:
TP1 : @1.7380
TP2 : @1.7290
TP3 : @1.7185
TP4 : @1.7115
TP5 : @1.6965
TP6 : @1.6815
TP7 : @1.6565
TP8 : @1.6355
TP9 : @1.6180
TP10 : @1.5785
TP11 : @1.5255
TP12 : @1.4535
TP13 : @1.3875
TP14 : Free
