EURNZD has been very bearish since May and now the sellers are losing momentum and the buyers a taking over.
EURNZD has reached its weekly strongest low ands it is also its a very strong support that has been proven multiple times and this time we kow that it is going to bounce of it and buy.
The selling chain was broken with a double top reversal pattern and there is a slightly formed Head & Shoulder that made EURNZD to give buyers enough strength to change direction.
The breakout from the trend has formed a bullish flag which acts as a retest for the breakout and that confirmed the buy entries.
EURNZD has reached its weekly strongest low ands it is also its a very strong support that has been proven multiple times and this time we kow that it is going to bounce of it and buy.
The selling chain was broken with a double top reversal pattern and there is a slightly formed Head & Shoulder that made EURNZD to give buyers enough strength to change direction.
The breakout from the trend has formed a bullish flag which acts as a retest for the breakout and that confirmed the buy entries.
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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.