EUR NZD is in a bearish parallel channel. Current its at trend line and support level. A correction can be seen from here till the upper trend line. A short position can be considered when:
1 .Once it get retraced to 0.36 fib level, and a red candle is formed
2. Or when it touches the upper trend line.
In both cases , the stop loss can be last lower high.
1 .Once it get retraced to 0.36 fib level, and a red candle is formed
2. Or when it touches the upper trend line.
In both cases , the stop loss can be last lower high.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.