EURNZD - Potential Reversal Zone Identified - Bullish BiasThe EURNZD pair is currently forming a Harmonic Pattern, specifically an XABCD pattern. This pattern indicates potential reversals in the market. At the completion of the pattern, we identify Point D, which is considered a Potential Reversal Zone (PRZ).
Confluence with Key Support Area:
Point D aligns with a Key Support area, further reinforcing our bias toward a potential trend reversal. This confluence strengthens our confidence in the upcoming price action.
Anticipated Trend Reversal to Bullish:
Given the formation of the Harmonic Pattern and alignment with the Key Support area, we anticipate a bullish trend reversal from Point D.
Entry, Stop Loss, and Take Profit Levels:
Entry: 1.79370
Stop Loss: 1.78420
Take Profit Targets:
TP-1: 1.80375
TP-2: 1.81290
TP-3: 1.82250
Conclusion:
With the formation of the Harmonic Pattern and the alignment of Point D with a Key Support area, we anticipate a bullish trend reversal in the EURNZD pair. Our entry point, stop loss, and take profit levels have been carefully calculated to maximize potential gains while managing risk. Traders should monitor price action closely for confirmation of the anticipated reversal.
