Round numbers are significant.. looking to short EURNZD
Round numbers are important areas for price action and this can be seen in the daily chart of EURNZD .
After failing to close about 1.9000, this pair has declined to 1.8000.
Price action over the past 2 weeks has been largely contained within 1.8300 and 1.8000 – in fact I see a top has formed at 1.8300.
I see further bearish action in this pair and am looking to take a short at 1.8000.
My initial target will be around 1.7640 with a possibility to seek a much larger move.
After failing to close about 1.9000, this pair has declined to 1.8000.
Price action over the past 2 weeks has been largely contained within 1.8300 and 1.8000 – in fact I see a top has formed at 1.8300.
I see further bearish action in this pair and am looking to take a short at 1.8000.
My initial target will be around 1.7640 with a possibility to seek a much larger move.