Trade Background:
EURNZD has tested major resistance level last week, when price failed to move higher after approaching 2019 all time high. On another note, EUR is currently very vulnerable to volatility due to the results coming out of the EU elections. This is great for us, as volatility is exactly what we need to kick start a reversal on this pair.
Trade Idea:
Positioning: Short
Time frame: 4H
Length of Trade: 1 week to 3 weeks
Entry: Between 1.7100 to 1.7200
Stop: 1.7300
Exit: 1.6400
EURNZD has tested major resistance level last week, when price failed to move higher after approaching 2019 all time high. On another note, EUR is currently very vulnerable to volatility due to the results coming out of the EU elections. This is great for us, as volatility is exactly what we need to kick start a reversal on this pair.
Trade Idea:
Positioning: Short
Time frame: 4H
Length of Trade: 1 week to 3 weeks
Entry: Between 1.7100 to 1.7200
Stop: 1.7300
Exit: 1.6400