EURNZD | Price is Overbought (Risky Setup)

Please support this idea with LIKE if you find it useful.

Initiate Short.

Entry - 1.71142
TP1 - 1.70106
TP2 - 1.68501
TP3 - 1.67517
TP4 - 1.66300
SL - 1.71453 (Please consider putting your Stop-Loss Above Horizontal Resistance)

Reason: Price being rejecte by Horizontal Resistance. RSI is overbought.

-This setup is risky because of previously we had situation when the price had not reacted on being overbought and continued growing (situation you can see on the chart, price was interacting with the same horizontal). You can consider initiate a position on a confirmed rejection

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advise.