EURNZD Technical Analysis – 30-Minute Chart
This analysis highlights a potential bearish continuation scenario for EURNZD, supported by multiple confluences.
1️⃣ Key Resistance Zone (1.84250–1.84400):
The price has repeatedly rejected this significant resistance area (highlighted in red), indicating strong selling pressure. The recent spike above this level failed to sustain, forming a clear bearish rejection.
2️⃣ Trendline Break:
The ascending trendline that previously acted as dynamic support has now been broken. This break suggests a shift in market structure from bullish to bearish, as buyers fail to maintain control.
3️⃣ Retest of Broken Support (Now Resistance):
The price is currently retesting a crucial demand zone near 1.8400–1.8410 (grey box) that has now flipped into resistance. This zone aligns with the trendline break and adds confluence for a potential continuation to the downside.
4️⃣ Bearish Market Structure:
A clear lower-high formation is expected around the 1.8400 region, which would confirm the bearish structure. From there, we anticipate a drop toward the next significant support zone.
5️⃣ Target Areas:
The first key downside target is around the 1.83200 region (grey box), which aligns with previous structural lows and acts as a strong demand zone.
📉 Trade Scenario:
A rejection from the 1.8410–1.8420 zone could offer a shorting opportunity with targets at 1.83200 and potentially lower if bearish momentum persists. A break above the resistance zone (1.84400) would invalidate this setup and could signal a bullish reversal.
🛠 Confluences Supporting the Bearish Bias:
Resistance rejection.
Trendline break and retest.
Lower-high formation.
Alignment with higher timeframes showing bearish momentum.
1️⃣ Key Resistance Zone (1.84250–1.84400):
The price has repeatedly rejected this significant resistance area (highlighted in red), indicating strong selling pressure. The recent spike above this level failed to sustain, forming a clear bearish rejection.
2️⃣ Trendline Break:
The ascending trendline that previously acted as dynamic support has now been broken. This break suggests a shift in market structure from bullish to bearish, as buyers fail to maintain control.
3️⃣ Retest of Broken Support (Now Resistance):
The price is currently retesting a crucial demand zone near 1.8400–1.8410 (grey box) that has now flipped into resistance. This zone aligns with the trendline break and adds confluence for a potential continuation to the downside.
4️⃣ Bearish Market Structure:
A clear lower-high formation is expected around the 1.8400 region, which would confirm the bearish structure. From there, we anticipate a drop toward the next significant support zone.
5️⃣ Target Areas:
The first key downside target is around the 1.83200 region (grey box), which aligns with previous structural lows and acts as a strong demand zone.
📉 Trade Scenario:
A rejection from the 1.8410–1.8420 zone could offer a shorting opportunity with targets at 1.83200 and potentially lower if bearish momentum persists. A break above the resistance zone (1.84400) would invalidate this setup and could signal a bullish reversal.
🛠 Confluences Supporting the Bearish Bias:
Resistance rejection.
Trendline break and retest.
Lower-high formation.
Alignment with higher timeframes showing bearish momentum.
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.
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.