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Eurnzdsetup

EURNZD MAJOR BREAKOUTEURNZD was travelling in a blue triangle, but as you know from our previous trades, price broke out to the downside, came back to retest the triangle at the 0.618 retracement level before making its way much lower then the previous support zone. Price is now travelling in a descending channel and has touched the bottom after a large impulse move down, we expect price to come up to the 0.618 and then back down to the -1.27 extension level.
Short
by UnknownUnicorn2396129
EURNZD Enters the Final Stage of Consolidation Before Falling1. Quite interesting currency movements because it will fall on the W1 time-frame and at the time-frame has formed a volume divergence -------------------------------------------------- -------------------------------------------------- ---- 2. EURNZD will again test the Fibonacci retracement level before going up, so pay close attention to price movements -------------------------------------------------- -------------------------------------------------- ---- 3. The pair will enter consolidation at least to the level of 0.618 or maybe lower to the level of 0.5 or 0.3 Fibonacci retracement -------------------------------------------------- -------------------------------------------------- ---- 4. Stop out price level which is at the level of 1.6530 -------------------------------------------------- -------------------------------------------------- ---- 5. The target price is at the price level of 1.6800 -------------------------------------------------- -------------------------------------------------- - ############################## Conclusion : Signal Strength >>> $$$$$ Recommendation : Buy Limit >>>>> Very Strong ############################## ----- This writing is purely for education and does not imply buying or selling ----
Short
by VolumeWaveFX