EURNZD: Buying Opportunity

The price reached the support zone one more time. The previous reversal from that zone gave us an upside movement to 1.82500, and this time we can build a trading idea using the same pattern.

The price is bouncing from the support zone and SMA100. RSI and MACD histogram confirmed the price reversal. It is possible to search for the exact entry points for buying in the hourly charts. Stop orders must be placed below the local swing low. It is 1.76000 level. The main profit target should be at 1.82500 resistance. Risk per trade must be no more than 1-2% from your capital.



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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.