2016-03-17_20-14-38eurnzd

Dear All,

On this eurnzd chart you may note that the pair is moving for quite some time between the lower area of support and the middle line of resistance.

The last two bullish impulsive candles have been greeted with two bearish impulsive candles.

There is therefore lots of bearish pressure on this pair not allowing it to go higher.

Stochastik is crossing downwards therefore this recommendation is for daytraders to look for short opportunities on smaller time frames.

This is just because it makes no sense to short in the middle of the range if you are looking for a swing trade.

Look for 5/8 moving average crosses on the 15 min chart only chosing bearish setups.

Like this since trading is all about probabilities you put the odds in your favour.

BEST OF PIPS

One thought on “EURNZD Range Bound”

  1. Ryan Gandalf van Jaarsveld says:

    Thank you Nuno – what’s great about this is I have been paying attention to dollar and Yen pairs only and thanks to this post my attention has been drawn to a pair I have not been watching. I really appreciate that. I will look out for sell setups and scalp some pips off this sucker. Thank you for all the hard work you go through in helping us traders out! It is greatly appreciated. Forex.Today is… You guessed it – the best site online 🙂

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