EURNZD MOVING TOWARDS RESISTANCE ...WHAT WE CAN EXPECT????
IF MOMENTUM IS LESS THEN AFTER PRICE CONFIRMATION
YOU CAN GO SHORT AROUND @1.72700
TAKE PROFIT @ 1.70250
IF MONTUM IS HIGH THEN IT WILL BREAK THE PREVIOUS RESISTANCE AND NOW IT HAS SUPPORT
AFTER PRICE CONFIRMATION YOU CAN GO LONG @1.72800
TAKE PROFIT @1.75000
EURNZD , AFTER BREAKING TH PREVIOUS SUPPORT LEVEL NOW IT MOVING TOWARDS NEW SUPPORT LEVEL @1.74900- 1.74600 (Go for Long)
When it was treated as an Support level it will move to previous resistance @1.76000 -1.76300(Go For Short)
Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 44 - 26 Oct
M > Market is moving in a rising channel. Price tested monthly support, faced rejection and started upward move.
W > Price has faced rejection at support of channel and is
D > After rejection at weekly demand zone and...
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