EURNZD Free Forex Trading Signals – 11th April 2017
EURNZD has been choppy on big time frames lately. The price was bearish, but solid trend was not there on the H4 or H1 charts. There was an important level of support to be broken at 1.52000. That level again proved to be too strong a support to break. In fact, the pair has produced some strong H1 bull candles. More to go with it, a strong level of resistance at 1.52410 area has been broken. These equations suggest that buying EURNZD on a pullback continuation would get buyers some green pips. Let us have a look at the EURNZD H1 chart…
As we see on the chart that although the price came down, but sellers were not that confident. Nevertheless, the price came up to 1.52000 area and then went up to 1.52410. The level acted as a level of resistance, but today it got broken a nice looking H1 bull candle. The next candle kept going up. Thus, the best thing to do would be waiting for the price to come back all the way up to 1.52410 level again. If we get an H1 reversal candle at 1.52410, then, the price would go up to 1.53100.
Let us have a look at the summary of the trade
- Buy Limit Order: 1.52410
- Stop Loss Level: 1.52000
- Take Profit Target: 1.53100
This is one of the most reliable trading patterns. Thus, those who are not familiar with this setup, they are advised that they should study and learn more about pull back continuation.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: EURNZD Free Forex Trading Signals – 11th April 2017
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