Forex forecast / EUR/NZD / Our expectations
Middle-term upward trend, higher bottoms. The price made 2 even tops and did not managed to break above the resistance, afterwards entered in short-term downward trend. Break of SMA 50 and horizontal support are making short more possible. If the price break below the neckline of the figure Double top is makes more sense to enter in short position. Technical indicator: CCI(50) - broke below level 0 - if breaks below level -100, the negative moods will increase.
Alternative scenario: If the price don't manage to break the support of the figure and pull back above the horizontal resistance, the negative scenario will be dismissed.
SL: 1.7250
Trader Bozhidar Arabadzhiev
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