EURNZD- Possible Bullish Reversal at 23.6 Fib Level!
Updated
- Price has broken the descending channel and we could potentially see a reversal of the resistance which is in confluence with my demand zone.
-Another confluence is that the 23.6 fib level lines up perfectly with the demand zone which could indicate that price will most likely reach the level and the bulls will be in control of the pair.
-The 50 EMA is above price which suggests bullish momentum.
-Very good opportunity to buy this pair but have to be patient on how price will react when it gets to the zone.
-Another confluence is that the 23.6 fib level lines up perfectly with the demand zone which could indicate that price will most likely reach the level and the bulls will be in control of the pair.
-The 50 EMA is above price which suggests bullish momentum.
-Very good opportunity to buy this pair but have to be patient on how price will react when it gets to the zone.
Order cancelled
Price did not retrace from the 23.6% fib level as it was breakout and it now reached the 61.8% level which price is currently consolidating on.
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