EURNZD: Multi Time Frame Analysis & Trading Plan

12 May 2020

Morning guys!

EURNZD is retesting a key daily structure.

due to a current bearish sentiment on the pair, we are short biased here.

moreover, daily structure matches perfectly with a recent 4H/1H structure and we see a double top with a lower high formation on that!
as always, our trigger is a bearish breakout of minor structure support 1.7765 (1H candle close below).
then we short on retest or aggressively and let the market drop lower.

target levels:
1.7692
1.7615


remember that the pair may coil in a range for many hours!
in addition to that, bullish breakout is also possible!
then the setup will be just invalid :)