EURNZD BEARS STILL IN CONTROL

16 sty 2019

Bears are still in control here. We’ve tested and rejected the broken support zone for the second time now. I will be looking to take sells if we can pull up into this zone once again although I think that is a bit unlikely - and if we DO come back it may just break out to the upside. The best bet is to watch the lower time frames for confirmations to take sells. I’d say we’re due to test the monthly support @ 1.66908 at least once more. I’d expect a bit of a fight from buyers here but ultimately we are still trending down so I expect we can move past support this time headed towards the 382 monthly fib level @ 1.66322. Before breaking support I would be looking for price to retest the zone between 1.67760 and 1.67625 (4 hour minor support as well a key daily level). If for whatever reason you miss sells from the top this would be a nice place to get involved (wait for confirmation of course).