EURNZD: Negative Vibe pulling the price range.

It seemed as if EUR / NZD could test the trend last week which is still strong. Now that the pair is testing for lower levels, we are much safer. Look on the bearish candlestick, which sends a clear negative signal with a long upper wick formed by D1.

Furthermore, on H4 we see clearly a lower elevation and a possible "head & shoulders" pattern. In fact, 1.7200 is a tough resistance, so it is likely that it will fall back into the 1.70 zone and perhaps lower.

Signal Specification

Entry: 1.70400

Tp: 1.69900

Sl: 1.71261

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