Take profit: 1.7350
Protective stop: 1.7768
Risk Ratio (RR): 1: 2.2 (approx.)
Estimated duration: 21 days
Relevant as long as EURNZD is above 1.7580
Note: The potential drawdown is a re-test of 1.7680. We are still uncertain if this is an early entry, we are willing to absorb the potential drawdown should it materialize.
In an event EURNZD does re-test 1.7680 in tomorrow's session, if we are too close to the market prior to the Non-Farm Payrolls (on Friday) we may temporarily widen the protective stop due to the spread widening.
This is a daily entry.