EURNZD – Bearish condition, will it reach 1.6380?
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:
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.