EURNZD – Slope support break?

Scott Barkley ProAct Traders

Bearish: Currently we are @107246 in a range. We just broke the Slope support here and we are looking for a continuation to the 0.382 Fibo @ 1.7130 area. Watch for a bounce here and then a possible continuation to the 0.500 Fibo @ 1.7070. The average daily true range (ATR) for the pair currently is 115 pips.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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