EURNZD | Price is Overbought (Risky Setup)

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Initiate Short.

Entry - 1.70113
TP1 - 1.69070
TP2 - 1.68474
TP3 - 1.68077
SL - 1.70436

Reason: The price is overbought according to RSI (though it can be overestimated due to previous decline). The price might be Rejected by strong resistance zone and 61.8% fib level.

Please consider entering this position on the price already retraced.

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advise.