EURNZD Price Action Analysis – 20th Sept 2017

Close
Close
Print Friendly, PDF & Email

Before you continue, we want to make sure you understand that this is a past trade idea found inside The Price Action Club which is a premium Price Action trade signal service. This post is 1 week delayed and this idea is no longer valid but the lesson is still valid. We post this to show you what is inside the Price Action Club. It would be awesome if you join us to learn and to trade our trade ideas. We hope to see you inside the Price Action Club soon. Click here to join us…

Join The Price Action Club Here…


Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

XM Broker

TickMill

We use both of these brokers and proudly promote them!


EURNZD has been bearish on the H4 chart. The price has been trapped within a down trending channel. Today, the pair reacted on the resistance of that channel again by making a huge bearish move. It is the time for the sellers to wait for a correction. If the price goes back to that breakout level and gives us a Bearish Engulfing Candle, then selling the pair would give us some green pips. Let us have a look at the H1-EURNZD chart…


Thank you for your readership. We are truly grateful!

Hope that you like the strategies that we share.
If you like the strategies here, you will absolutely
love our latest strategy...

The MorningPips Trading System

The aim of Morningpips is to finish trading by the morning.
Simple as that... Check it out!


Look at that huge bearish H1 candle. It broke through a massive level of support at 1.63580. The next candle is an Inside bar though. However, the price would need another level of resistance to attract more sellers from here. The best level of resistance here would be the breakout level at 1.63580. If the price goes back there and produces a Bearish Engulfing Candle, then there should be huge selling pressure to take the price further down. Let us have a look at the summary of the trade…
  • Sell Limit Order: 1.63580
  • Stop Loss Level: 1.64350
  • Take Profit: 1.62150
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

We have FOMC today. Thus, most of the pairs have been sluggish today. NZD and AUD pairs look good though. Since EURNZD is a non-US pair, thus it might go technically from here and produce the signal that we are eying on. We have to make sure that the signal comes at least 2 hours earlier than the FOMC meeting minute though.

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 Price Action Analysis – 20th Sept 2017

Join The Price Action Club Here…

 




Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments

Download Our Sniper Trader Trend Following System

x