The EURNZD pair has recently tested a significant daily/intraday support level.
Following a test of the identified support structure, the market formed an inverted head and shoulders pattern on the 4-hour timeframe.
A bullish breakout above the neckline of this pattern suggests a strong bullish signal.
This could suggest a potential retracement from the support level, with a possible target of 1.9815.
Following a test of the identified support structure, the market formed an inverted head and shoulders pattern on the 4-hour timeframe.
A bullish breakout above the neckline of this pattern suggests a strong bullish signal.
This could suggest a potential retracement from the support level, with a possible target of 1.9815.
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Join our Telegram channel for daily market update 👇👇
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.