Potential trade setup: EUR/NZD analysis
Price has rallied towards a key dynamic resistance for the 3rd drive, 1.72250 could be a key barrier which many sell orders may be filled at these highs, however we may see some manipulative price action at and therefore take opportunities on additional -sell positions at spike levels that could potentially tap the 61.8% fib level, overpriced region, before price reverses to our highlighted target of 1.7000-1.69000 for a major correction.
this could be a great risk-reward trade, 25 pips above spike and potential 200 pip move towards the downside, could ECB speech later
on today be the boost needed?
this could be a great risk-reward trade, 25 pips above spike and potential 200 pip move towards the downside, could ECB speech later
on today be the boost needed?
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