EURNZD Market Outlook | AlchemyFX Daily Telegram Breakdown

EURNZD
Down over 500 pips since our last short signal for EN, that is over a 4 week period. I am pointing this out because it's a good example of how powerful a single trade can be if you hold it and let your winners run. If you can get used to holding trades with great entries for a longer time frame it can have a very powerful effect on your profitability. This is why I prefer swing trading but sometimes market conditions are not ideal for swing trading and you have to be adaptable and start taking some intraday trades. This is also a good example of why proper risk management is key because with a massive win like this you can make up for several losses, but that is not the case if you do not have proper risk management.

Hard to tell exactly what is next for EN it is looking very bearish there is a chance we could potentially come down to retest 1.70