EURNZD Potential Short Idea

20 de out. de 2020

We got EURNZD currently sitting at an upper trendline which has been respected for the past couple of months. If price respects this trendline then we could see a bounce soon to the lower trendline. We could also see a break above this trendline and if price is able to hold this break then we could see a shift from bearish to bullish once we get a retest and rejection of the upper trendline. I have a feeling that we'll get a lot of answers for this pair tonight so keep an eye out for it. I'll be looking for a rejection of the upper trendline then I'll get into a short however if we head into London and continue to see NZD weakness then this trendline will probably break at which point I'll be watching for a retest of the trendline to get into a long.