fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Short Eur/nzd  Wed Jul 04, 2012 11:54 am | |
| Short Eur/nzd Quotes from RBS: -Very seldom do I (analyst) like recommending trades that jump on the back of an already established trend, but in the case of EUR/NZD the technicals suggest there is still plenty of downside to come. The recent breaking of the potential support at 1.5823 now provides the trade with the short term risk/return by tucking stops above it around 1.5850. The downside target lies at 1.5252 on the basis that the previous all time low and potential support level can be broken at 1.5591. Strategy: Short here at 1.5673, target the 150% projection from the May June sell off at 1.5252 and stop on a daily close above 1.5850. More FOREX-news on pages InstaForex.Com  | |
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