Today’s analysis - EURNZD- trading towards Local S/R where a bounce is probable,
Points to consider, - Price Action Impulsive - Local S/R Support (.618 Fibonacci & 200 MA confluence) - Swing High Objective - Oscillators Bullish Control Zones
EURNZD’s immediate price action is impulsive towards Local S/R that has technical confluence with the .618 Fibonacci and 200 MA. This area is a trade location with a probability of trend continuation.
Both Oscillators are currently trading in bullish control zones, remaining in these areas is indicative of strength in the market.
Overall, in my opinion, EURNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
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And remember,
The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder