EURNZD trade idea(1:15 RR)

٣١ أكتوبر

EURNZD has shown a strong impulse upwards and the 7 day bullish streak might be indicating to overextension, as we are currently facing a major resistance level on the daily chart. In the mid August the price hit 1.86(VWAP high) and since then the price has made a weekly 3 wave impulse downward. October gave us a retracement and now its time for another wave downwards. We are targeting the lows of the past week making it 1:15RR. Keeping stops above recent highs.
This analysis is taught and provided by Fractals Trading.
Trade safely and expect the unexpected,

Mei