EUR/NZD 4-Hour Chart AnalysisKey Observations:
1. Support Zone:
- The price is currently testing a key support zone around 1.82880–1.83160.
2. Uptrend Break:
- The ascending trendline has been broken, indicating a potential shift in momentum from bullish to neutral/bearish.
3. Trading Ranges:
- Resistance Above: Potential resistance is visible near 1.8450–1.8500, in case of a bullish recovery.
- Support Below: If the price breaks below the current support, the next levels to watch are:
- 1.8143 (intermediate support).
- 1.7986 (major support).
- 1.7806 (long-term support).
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Trading Scenarios:
1. Bullish Continuation:
- If the price holds above 1.8315, a bounce toward the previous highs near **1.8450–1.8500** is possible.
- Entry: Above 1.8350.
- Targets: 1.8450, 1.8500.
- Stop-Loss: Below 1.8300.
2. Bearish Breakdown:
- If the price closes decisively below 1.8315, it could trigger further downside toward 1.8143 and possibly lower.
- Entry: Below 1.8300 (watch for retest).
- Targets: 1.8143, 1.7986, 1.7806.
- Stop-Loss: Above 1.8350.
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- Be cautious of false breakouts and wait for confirmation (such as a strong candle close) before entering trades.
- Use proper risk management with defined stop-loss and target levels.
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Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consult a financial advisor before making investment decisions. Trade responsibly.
