Euro New Zealand Dollar

Good evening Dynamic Traders,

I hope your forex trading is going well this week and a pair that you could well consider is the EURNZD.

At of todays candle, although it needs to be completed, but looks like it could well end up being a nice big doji with plenty of wick. It stands at a possible DT, but a good RN lies just north, which also is clustering with fibonacci numbers on both the daily and weekly timeframes, together with the MOB in AdvancedGet.

However patience is needed here as ususal for confirmation as the smaller timeframe to these is looking like a decline could be imminent, as we have hit yet another fib on this timeframe together with a diverging RSI.

Whatever happens, we can be ready for entries either way, for day or swing trades, if we adhere to our Trading plans we created during our mentoring classes and webinars.

As always please do your own analysis and wait for your entry confirmations, but be on your toes.

Charts courtesy of TradeStation.

As the markets are closed on Saturday morning, there will be no update tomorrow as normal, but also possibly none on Sunday evening too.

Have fun trading,

Clayton Farnworth.