EURNZD: Reversal Perspective & Technical Analysis
EURNZD has a bearish structure supported by a descending channel, with a high registered at 1.7935 on January 22nd. Currently, the price is in the H4 demand zone. I expect a possible trend reversal, with a change in structure to the upside on M15 followed by a retest in the BOS impulse zone. In this case, if the market follows this scenario, I would enter a long position during the retest only if the price does so within one of my three market entry timings. My target would be the level 1.7701, where there is a swing high with liquidity yet to be absorbed on H4. Greetings and happy trading to everyone from Nicola.
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