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Eurnzdlong

EurNzd- are "we" breaking up?Although the trend is grossly down for EurNzd, from the beginning of the year, the drop in the pair was marginal, forming a falling wedge. A bottom seems to be in place at this point at 1.6650 zone and is marked by a double bottom on shorter time frames. Now the pair is trading at 1.68 which is also the resistance of the wedge. A break here would expose 1.7 zone and 1.73 furthermore (the target for the pattern) Buying dips can be a good strategy for this pair
Long
by Mihai_Iacob
9
EurNzd- break of falling wedge for 500 pips profit.Since the beginning of the year, EurNzd is trading in a falling wedge, with the price making marginal lows. On shorter term time frames, the pair made a small double bottom which can give us the idea of a turn. Now EurNzd is facing confluence resistance of horizontal 1.68 level and the resistance of the wedge and a break here would confirm the reversal and gives scope to 1.73 resistance. Also, a buy trade for this pair would have a great R:R
Long
by Mihai_Iacob
15