EURNZD Long Analysis
Weekly
- Price found support and has been consolidating after a long downtrend.
- The previous weekly candlestick was a large bullish candle, which showed there was a significant amount of bullish pressure.
Daily - Price appear to have found support and formed a double bottom, which is a bullish candlestick pattern.
- After the formation of the double bottom, I am expecting price to make a retracement to test the neckline.
- The neckline also corresponds with the 50.0-61.8 Fibonacci level
- Here is where I will be looking to enter a long position.
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