Currently, EUR/NZD is in a bullish trend on the 1-hour timeframe, forming higher highs and higher lows. However, there is a bearish divergence on the RSI, indicating a potential trend reversal.
If the price reverses from the current level without breaking the recent high of 2.00451, and gives a breakdown below 1.93840, we will consider entering a short position.
The stop-loss will be placed at 2.00451, with target levels at 1.91247 and 1.87942.
If the price reverses from the current level without breaking the recent high of 2.00451, and gives a breakdown below 1.93840, we will consider entering a short position.
The stop-loss will be placed at 2.00451, with target levels at 1.91247 and 1.87942.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.