THE KIWI IS GAINING MOMENTUM!? | EURNZD (4H)

Remember I stated a couple of weeks ago of a trading opportunity that shouldnt be missed on this pair. Now, the setup is becoming clearer! See below the follow up plan for EURNZD ( see previous broadcast on this pair for reference purposes);

Tendency: Downtrend ( Bearish )
Structure: Flag | Rising Wedge
Observation: i. Price appears to be going through a correction move of the impulse leg XA.
ii. Correction move might culminate at resistance zone 1.74500 which will serve as retest.
iii. On the weekly time frame(see link below); Price appears to have completed correction move of impulse leg (Oct - Nov 2018) at 78.6%.
iv. Expecting the price to reject the resistance 1.74500 before the rally down.
v. Price below Moving Average
Trading Plan: SELL with TP1, TP2 and TP3 (225pips) and SL @ 1.75000/1.75000 zone.
Risk/Reward: 1/4.5
Potential Duration: 3 to 7 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.



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