Eurnzdforecast
EUR/NZD Next move IMOEUR NZD has made a bullish channel since 5 days and recently It got rejected from upper trendline.
The rejected has been made in past from the same nearest point by this resistance.
On long term plan we are bullish all the way. But we can take a small sell opportunity here and wait for the evidence and next possible move on next support.
What are your views about eur/nzd?
But this could change the trend?
Note: Always Do Your Own Research & Manage Your Risk Reward Ratio
(This Is not a financial advice) This is only for educational support
EurNzd- To resume its downtrend?The trend for EurNzd is clearly down and after correcting and confirming 1.7 as strong resistance (twice) the pair started to roll back to interim 1.6650 support
A break here would also confirm a double top formation and give scope to a retest of 1.6350 low.
Rallies should be sold and only a clear break above 1.7 would negate this bearish scenario
EurNzd- Down continuation?After February's low around 1.6350, EurNzd recovered and reach, as I expected, 1.7 resistance.
A double top was formed here signaling that the correction is over
Now the pair is under the ascending trend line and we can speculate that the downtrend has resumed
I expect a new drop to 1.6350 support and only a break above resistance (1.7) would negate my scenario