EURNZD has been having strong Bearish momentum on the H4 chart. Yesterday’s Daily candle came out as a strong Bearish candle. Today’s first H4 candle was a Bearish Doji and the next one was a solid Bearish candle, which also made a breakout towards the downside. The pair has been having a correction as it seems. If the current H4 candle is held by the breakout level and we get an H1 Bearish Engulfing Candle right at the breakout level, then selling the pair would get us some green pips. Let us have a look at the H4 EURNZD chart.
EURNZD Price Action Analysis – 4th April 2018
Have a look at today’s huge Bearish H4 candle, which made a breakout at the level of 1.68720. If the current candle finishes within this level and the produces an H1 Bearish Engulfing Candle, then the price would reach at 1.67450 without having too many pauses. Let us have a look at the summary of the trade…
- Sell Limit Order: 1.68720
- Stop Loss: 1.69100
- Take Profit: 1.67450
- Validity: 72 hours
- Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable
Today’s market has been very active so far. Numbers of pairs have already made breakouts. Most probably the breakouts are going to be held and the pairs would offer entries for the traders today. If that happens, then surely the Forex market will be having another great day to start the week of the month of April. As I said, at the beginning of this week that April would be a good month for the traders. This is how it has been going as it seems so far.
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