EURNZD – Bearish condition, will it reach 1.6380?

Written by Raul Lopez on July 14, 2011. Posted in Trades & Analysis

The EURNZD is trading in a very clear bearish market condition, yesterday it broke through an important short term support level (1.6863) and triggered its bearish condition:

Trading plan:

As long as the EURNZD trades below 1.6863 I’ll be looking for short opportunities. If it forms a significant pattern with downward pressure around the resistance level, I’ll definitely go short.

Long opportunities should be ignored.

Trade Safe!

Raul Lopez
Forex Course

Tags: EURNZD Analysis

Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.

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I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Training. Read more about me.

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