EURNZD Position Trade for 2014-2015
Weekly Chart
- After 4 consecutive years of the down trend, last year in 2013 we saw a bullish momentum take place
- Broke out from a bearish wedge formation in 2013
- In 2014, prices has retraced back towards a possible forming upward trendline / near lows of 2012 and 2013
- A bullish bat pattern also signals possible reversal pattern
Daily Chart
- Ascending MACD Oscillator broke through above the 0 line after reacting from the PRZ of the weekly bat pattern
Outlook Trade opportunity
Long at around the most recent upward swing fib 38.2 - 50 level, with stops either at the 2013 low OR the low of 2014At least aim for a 2:1 Reward to risk
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