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,...
Trading Signal:
A Trading Signal is seen in the EURNZD Currency Pair.
Traders can open their Buy Trades NOW
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Hello Traders,
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...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.7813). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURNZD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
