Get started

Oversoldconditions

EURNZD Oversold Bounce| Long Liquidity| .50 Fibonacci| Local S/REvening Traders, Today’s analysis – EURNZD- trading at oversold conditions approaching long liquidity, a bounce here is probable. Points to consider, - Bearish Price Action - Untapped Long Liquidity - Local S/R Resistance (.50 Fibonacci Confluence) - RSI Oversold EURNZD’s immediate price action is bearish under local S/R, this allows us to have a bearish bias on the market. Price action is likely to have a bounce at long liquidity, this allows for a long scalp play into local S/R. Local S/R being the objective and in confluence with the .50 Fibonacci, a bearish retest here is probable. The RSI is in oversold conditions, indicative of an oversold bounce play coming to fruition as price action deviates back to local S/R. Overall, in my opinion, EURNZD is likely to revert back allowing for a scalp long into Local S/R. Price Action is to be used upon discretion/ management. Hope this analysis helps! Thank you for following my work And remember, It does not matter how slowly you go as long as you do not stop.”Confucius
Long
by AzizKhanZamani