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CollegeofPips

NZD/USD | Potential Downward Movement

Short
Euro / Dollaro australiano (OANDA:EURAUD)  
CollegeofPips  
OANDA:EURAUD   Euro / Dollaro australiano
Support and Resistance Fibonacci Pivot Points Forex Technical Analysis priceaction fakebreakout Fibonacci Retracement topdownanalysis
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supportandresistance fibonacci pivotpoints forex technicalanalysis priceaction fakebreakout fibonacciretracement topdownanalysis
💡 Trade Idea

📉 Sell Order EUR/AUD @ 1.6303

🎯 Target Profit 1.6146

🛑 Stop Loss 1.6372

❌ Do not risk more than 1 % of your account on each trade

🙂 Good Luck !

Description: The pair failed to close above the daily resistance (1.6336) and it posted a head and shoulders which indicates a reversal. The price manages close below the highlighted zone and breakout of the channel to the downside which signals a move downward.

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