EURNZD Retest analysis
Last week Friday, We are selling EURNZD depend on the breakout analysis.
EURNZD has moved in an uptrend by forming higher highs, higher lows in 1-hour time frame chart.
Recently EURNZD has broken the bottom zone of the Uptrend line.
EURNZD re-tested the breakout level again. This gives a good sell opportunity for EURNZD.
EURNZD sell signal given while the market trying to re-test the breakout level.
Finally, EURNZD reached the take profit successfully.
NOTE: Some of the brokers who do stop-loss hunting or if the broker has high spread on EURNZD, the SL might be triggered.
What is Stop loss hunting in forex trading?
The market suddenly touches your stop-loss price and returns back to the normal market price or the spread will get wider to hit your SL price.
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