EURNZD SHORT BIAS
Following top down analysis with price action, price have been trading inside this particular range bond zone between @ 1.8240 and @ 1.7200, which is indicated on my chart, inner this range bond, price just broke below a BEARISH FLAG , which price we've been trading within since August, this Friday we did had a daily, weekly and monthly close below this BEARISH which i think it's a significant one.
I think it will worth it to be looking out for the newly kind of support turn resistance around the ray lines of the said BEARISH FLAG @ 1.7700 to hold as resistance for more downside, i will be considering this as a swing trade while targeting the next level of support @ 1.7200 to give about 400pips profit.
WHILE a roll above the zone @ 1.7700 in the new month will set price higher, but i think the holy grail in the trade is the SHORT side even with the lockdown effect in Europe because of surge in the coronavirus, second wave thing and all that.
I think it will worth it to be looking out for the newly kind of support turn resistance around the ray lines of the said BEARISH FLAG @ 1.7700 to hold as resistance for more downside, i will be considering this as a swing trade while targeting the next level of support @ 1.7200 to give about 400pips profit.
WHILE a roll above the zone @ 1.7700 in the new month will set price higher, but i think the holy grail in the trade is the SHORT side even with the lockdown effect in Europe because of surge in the coronavirus, second wave thing and all that.
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