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Trade Setup EURNZD Moving in a Range

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