EURNZD SHORT AND THEN LONG SET UP

21 lug 2016

WHEN LOOKING AT THE FIB LEVELS AND THE RESISTANCE AND SUPPORT LEVELS AND STRUCTURE OF THIS PAIR I THINK IT WILL START GOING DOWN TO ABOUT 1.54600 AT %50 RETRACEMENT WHICH IS ALSO A STRONG SUPPORT LEVEL. IT MAY COME DOWN TO 1.53800 WHICH IS AT 0.618 FIB. THEN IT MAY SHOOT BACK UP TO 1.60900 LEVEL WHICH IS IN STRUCTURE AND MEETS A RESISTANCE LEVEL UPWARD. IT IS ALSO WITHIN 0.50- 0.618 LEVEL OF THE BIGGER DOWN MOVE THAT HAPPENED BEFORE.