Euro New Zealand Dollar

Good evening Dynamic Traders,

Firstly, just a quick recap on last nights blog, I entered the trade at around 11 o'clock today and am now managing it with a small profit, always remember 'Patience'.

Tonights chart is on the EURNZD, but due to its volatility, I am showing it on the 4 hour timeframe.

During doing your own analysis you will see that the daily chart has today a spinning top and bearish flag pattern formation, although todays price action is not complete.

Whilst on the chart below, we have tagged the breather level, with T.J.'s elipse in evidence,
and MACD is showing divergence.

As indicated on the chart we may also have a H&S pattern forming.

Do be extra cautious shorting this as it would be heavily against the trend, but a calculated entry due to your confluences adding up could give good gains.

Always do analysis of your own before taking any trades.

Charts courtesy of AdvancedGet.

Enjoy your trading.

Clayton Farnworth.