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EUR/NZD

EUR/NZD

Thomas Long, Course Instructor

This means that we should look for selling opportunities on this hourly chart. Confirmation of the downtrend might come with a move down through the 1.7972 low as seen on the chart. Traders could sell on a break down through that support and then place a protective buy stop above resistance in the 1.8311 area. Target to take profits should be set at twice that risk for a 1:2 risk:reward ratio.

eurnzd 0706

 

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