EURNZD: Valid Reversal Trade
Updated
Hey everyone,
we are back from a short break and starting 2019 with a trade we are in since today on the EURNZD pair. According to our analysis price formed a bottom with a divergence on the low. In this downtrend price did create a trend line which was broken with the first up move from the low. From this point price started to reverse right back to the high of the bottom. This is exactly where we entered a buy as price rejected from this area. Another confirmation is the 0.5 fib level, which was tested there. Lets see how high price takes us... Updates are in the section below.
we are back from a short break and starting 2019 with a trade we are in since today on the EURNZD pair. According to our analysis price formed a bottom with a divergence on the low. In this downtrend price did create a trend line which was broken with the first up move from the low. From this point price started to reverse right back to the high of the bottom. This is exactly where we entered a buy as price rejected from this area. Another confirmation is the 0.5 fib level, which was tested there. Lets see how high price takes us... Updates are in the section below.
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