EURNZD has to decide where to go! Will it break or will it hold?
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Hi guys,
just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past.
As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market.
Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations.
Never be unprepared! Think ahead!
I'll keep you updated.
If you want to share your standpoint, feel free to comment below.
Otherwise, see you in the next chart!
just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past.
As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market.
Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations.
Never be unprepared! Think ahead!
I'll keep you updated.
If you want to share your standpoint, feel free to comment below.
Otherwise, see you in the next chart!
Note
Break occurred without any selling signal, so now we're waiting for a test of the broken resistance to see if it can turn into support:
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