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Corbeau_FX
Oct 5, 2020 10:44 PM

EURNZD BULLISH TREND CONTINUATION Long

Euro Fx/New Zealand DollarFXCM

Description

SIMPLE IDEA ABOUT EUR/NZD TO THE UPSIDE. IF THE PRICE RETRACTS TO THE TWO DEMAND ZONE WE WOULD HAVE A COMPLETE 3 WAVES CORRECTIVE CYCLE. THE FIRST ZONE IS WEAK IF YOU ASK ME BECAUSE THE PRICE WOULD NOT MAKE A ''COMPLETE '' CYCLE IF IT STOPS THERE. ALSO, THE STRUCTURE PRESENTS IN THIS ZONE IS BASED ON M30 TIMEFRAME AND BELOW ( I DON'T USUALLY TAKE THESE ZONES AS VALID ZONES). HOWEVER, EURO HAS A LOT OF MOMENTUM THIS WEEK, SO THE PRICE MIGHT NEVER HIT THE DEMAND ZONE AT THE BASE OF THIS IMPULSIVE WAVE
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