EURNZD reached +900 points after retesting the breakout level

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 trying to retest the breakout level

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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