We believe that OANDA:EURNZD is ripe and ready for a big impulsive movement to the upside. Buy opportunity range between the 1.562 - 1.564 area. SL below 1.56 Target in the 1.88 area (medium term) If you prefer operating more on the cautious side, wait for a first impulse on the 60min timeframe, follow the consequent minor correction or flag, and buy the break of the flag. Updates will follow. Trade with care and only with a tested strategy. Please don't forget to follow us if you feel that our comments and charts can be a useful complement to your trading strategies.
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Two things might be happening. It is either going to finish a smaller 60min structure, as per the following:
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Or it could be a bigger structure in the making, on the daily, something like this: