This plan requires a strong Euro and a weak Kiwi. A reversal pattern formed at MS1 last week and produced a higher high. Price will be opening at resistance so if you are a Bear then you will have an opportunity to short. If you are a Bull then buying the higher low makes sense.

Please note if this trade plan has no charts please refer to the next one that does.

EURNZD Daily

A large bid seen at MS1 with price closing at resistance. Daily stoch crossing up into the trade zone.

EURNZD H4

Price will be opening at WM3 so if you are a Bear you know what to do. A key level of resistance with it being the role reversal of the previous range. The bearish target is WM1. Bulls are looking to buy the pullback at WPP/ 38.2% or WM2/ 61.8% - note that the 50% is also support. WPP targets WR2 and WM2 targets WM4. Note the H1 21 is dynamic support.

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