EURNZD Long
Daily Bias Bullish.
Fundamentally, NZD news have been bearish. EUR is more neutral movement. with NZD CPI fall.
Price had a strong pullback to a daily horizontal level. Price did a short consolidation and broke out.
Price is reacting to both trendline and support level of higher TF in H4/Daily. Price closed above the H1 resistance level of consolidation.
Long trade set at the broken resistance of H1 and target Swing high of daily TF R:R 1:4.
SL is below the swing low.
Confluence
Higher TF (W/D/H4) - Bullish trendline and broken resistance level
Lower TF (H1/M30/M15) - Broken resistance level
Candle - Bullish momentum candle
Fundamentally, NZD news have been bearish. EUR is more neutral movement. with NZD CPI fall.
Price had a strong pullback to a daily horizontal level. Price did a short consolidation and broke out.
Price is reacting to both trendline and support level of higher TF in H4/Daily. Price closed above the H1 resistance level of consolidation.
Long trade set at the broken resistance of H1 and target Swing high of daily TF R:R 1:4.
SL is below the swing low.
Confluence
Higher TF (W/D/H4) - Bullish trendline and broken resistance level
Lower TF (H1/M30/M15) - Broken resistance level
Candle - Bullish momentum candle
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.