Interval: H1
From 24th of April EURNZD has consolidated in a rectangle pattern. The resistance it is found at 1.5386 and the support it sits at 1.5346. Looking at the candlesticks pattern, Bearish Engulfing, made near the resistance could signal a reversal of the up move.
This setup it is based on a continuation of the range. The stop can be set over the resistance line and the take profit near the support.
Confirmation level: 1.5343
Take Profit: 1.5246
Stop Loss: 1.5259
Trade Setup EURNZD Moving in a Range by Razvan Mihai