EUR/NZD falling, descending channel
Alright as you can see the price push up to the resistance line of a falling channel, with ma boii RSI is chillin’ like ice cream villain on overbought territory I can assume that the price will dive to 1.6300..
So if you want to sell this pair you could have a sweet reward-to-risk ratio if you aiming to 1.6300 lows or to the previous low to 1.6100
i'm not opening a trade here cause i already open a nzd trade on NZD/USD ti's highly negative correlation you can sell this pair and buy NU
but you'll be risking two trades in highly correlation, so if NZD shows weakness you'll end up losing both.
good luck homies
So if you want to sell this pair you could have a sweet reward-to-risk ratio if you aiming to 1.6300 lows or to the previous low to 1.6100
i'm not opening a trade here cause i already open a nzd trade on NZD/USD ti's highly negative correlation you can sell this pair and buy NU
but you'll be risking two trades in highly correlation, so if NZD shows weakness you'll end up losing both.
good luck homies
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