Eurnzdforecast
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
EURNZD trendline breakout - Possible short setupEURNZD tested 1.6690 highs and tried breaking out but failed. Eventually breaking out multi-days bullish trendline.
As the momentum is quite strong so there is scope to further go towards 1.6668 lows. Wait for a pullback and trigger short if it breaks the pullback range.
Trade Safe!
EUR/NZD - move to 1.7347⚡️Price reversal movement continues. I see one strong level 1.7347. Good pair for the medium term.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade