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)
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.