EURNZD - Head and Shoulders top, Selling strength.
DAY TRADE - EXPIRES AT 9PM
Trade Idea
A bearish Head and Shoulders has formed.
A break of the neckline is required to confirm the formation.
The measured move target is 1.6300.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6700, resulting in improved risk/reward.
We look to Sell at 1.6700
Stop: 1.6750
Target 1: 1.6515
Target 2: 1.6450
Trade Idea
A bearish Head and Shoulders has formed.
A break of the neckline is required to confirm the formation.
The measured move target is 1.6300.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6700, resulting in improved risk/reward.
We look to Sell at 1.6700
Stop: 1.6750
Target 1: 1.6515
Target 2: 1.6450
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