www.varchev.com

EUR/NZD the correction gives a good price for sell orders

Forex EUR / NZD technical analysis | Our expectations:

End of the prolonged upward trend after a breakout below the main diagonal and the wedge formation. Ability to sell after a 50% correction at the last big bearish bar, which creates preconditions for negative sentiment in the couple. SL 1,6926

The level is strong with many diagonal and horizontal resistances.

The SMA50 and SMA200 are above the price, with an icreasing likelihood of death crossing (strong negative signal).

The last bearish candle is very large and absorbs the previous 10 candlesticks – a strong signal for the expected downward impulse.

Alternative Scenario: Returning the price in the upward price channel will turn sentiment to positive.


 Trader Nikolay Georgiev


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance