Eur/Nzd (Looking For A Buy Entry)

Eur/Nzd (Looking For A Buy Entry)


Price is at a support zone and got somewhat of a push up. We need more evidence of the buy for now though. On h1 , price has moved above the 20 Day Sma and the 50 Day Sma… and the moving averages are almost ready to cross. On hour 4 , Then Trend found a support at 1.66214 , and priced has moved up from there but is still looking like price could move back down a little or even retest the 1.66214 area.
I believe that this is just a move up within a bigger move down! If you look at the monthly time frame, price made a double top and then a move down , and it looks like it will retrace for about 100 to 200 pips before falling again! (Just My Opinion)

But Im looking for a buy! I will consider opening up the buy if price moves above the 20 day SMA and closes above the 20 Day on hour 4! There is actually a bullish engulfing candlestick pattern on hour 4. Check the last 2 4 hour candles!

Enter and trade at your own risk! You better confirm the move before you trade it because I have had some losing trades over the holidays!

Read more…