EURNZD: The Zone to Watch 🇪🇺🇳🇿
Updated
EURNZD is trading in a long-term bearish trend.
On Friday the price reached a peculiar zone of confluence:
we see a perfect match between 618/50 retracements of the last two bearish impulses
and a horizontal structure on the left.
To catch a bearish move from that wait for a bearish breakout of an expanding wedge pattern on 1H time frame.
Goals will be 1.635 / 1.626
In case of a bullish breakout of a blue zone, the setup will be invalid.
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