". There is still a possibility of temporary retracement to the suggested resistance line (1.6860).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. EURNZD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
The counter EURNZD is traveling in the descending channel from 18th November. Therefore short is very suitable for this counter and the bearish trend will continue further. The price is moving even more downwards and it is expected to move until 1.6947.Till now there is no indication for a break out of the channel. If the price breaks the top line of the channel,...
While the price is below the resistance 1.7390, beginning of downtrend is expected.
We make sure when the support at 1.6325 breaks.
If the resistance at 1.7390 is broken, the short-term forecast -beginning of downtrend- will be invalid.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.