( trade in progress) week4 EURNZD h4 bearish trappedtraders shooting star ready for short

After previous week of bearish movement,

price seems to be resisted at 1.700 in confluence with cluster of 52weeks level.

h4

Double shooting stars were printed, near the resistance cluster. This could be the topping signal of a right head and shoulder. Should this distributive pattern be completed, more downside spaces will be available for next phase of shorting.

week4 EURNZD h4 trappedtrader 260116

NZDCHF h4

NZDCHF, the direct opposite of EURNZD, looks the weaker one with more ease to trade ( LONG side), as price has already completed a larger flush phenomenon.

week4 nzdchf h4 long trappedtraders 260116

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