EURNZD has entered into a short term downtrend, having broken its support @1.8039. Price has rejected and is currently retesting this level of support from below. We can see that price has also begun riding the lower BB, although we are still seeing values above the EMA100. It is still well within its longterm positive trendline so ill be setting TP to the respective position.
Reasons to take:
- Stochastics are downfacing,below 50, oversold (however currently resting on top of each other)
- Momentum is negative and downward facing
- Price is riding lower BB
Reasons to take:
- Stochastics are downfacing,below 50, oversold (however currently resting on top of each other)
- Momentum is negative and downward facing
- Price is riding lower BB