EURNZD Signal (320 pips)

Understanding Risk in Forex

Remember last week I told you this week was going to be interesting week? Well, at least it started that way!

There are a few currency pairs that are trading in very clear conditions… And you know what we need to do once we have a clear currency pair right?

Just find an excuse to go either short or long.

We just need to find the right currency pairs to trade. As I’ve said before, find the right pairs to trade, and you’ll have 80% of the job done!

Dont worry too much about your entry system, etc.

Anyway, today there are plenty of currency pairs trading in a clear market condition and one of them is the EURNZD.

Long EURNZD signal

The EURNZD is one of the currency pairs that is trading in a very clear bullish condition.

Here is what the daily chart looks like:

EURNZD 1D

Its clear that the EURNZD wants to continue its way up, therefore we need to look for long opportunities…

Ok, now we need to look at the short term charts and see where we could find a good possibility to go long.

Let me show you the 15 minute chart:

EURNZD 15M

The EURNZD formed a new range in the 15M chart, while we are already in a bullish condition, that means that we can take the breakout of that range…

Here are the order details:

Entry stop order: 1.5330
SL: 1.5277
TP: 1.5651

Pretty good risk-reward ratio isn’t it?

Your Turn

What do you think about the market so far this week?

What currency pairs are you trading/monitoring?

Share your thoughts!

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • cassyd

    Hey Raul. yeah…the setup does look good. if your levels are reached i am very sure profits are just around. And we can even get more short opportunities once it bounce from that resistance. confirmation is essential though.

    • Raul Lopez

      That’s correct Cassyd, we need to wait for the market to reach the resistance level before looking for any trade short opportunity.

      We’ll see what happens!

      Good luck!