EURNZD Local S/R| .50 Fibonacci| Price Action| Daily S/R

Evening Traders,

Today’s analysis – EURNZD- trading at a key trade location where higher low is likely to be established,

Points to consider,
Price Action Impulsive
Local S/R Resistance
.50 Fibonacci objective
Oscillators neutral

EURNZD’s immediate price action is impulsive, trading below its local S/R with the .50 Fibonacci coming in as support, allowing for a bullish bias.

Both oscillators are trading neutral as of current, remaining in their bullish control zones is indicative of strength.

The current volume profile is on a decline, an influx is highly imminent when testing key trade locations.

Overall, in my opinion, EURNZD is a valid long with defined risk, price action is to be use upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“Hope is bogus emotion that only costs you money.” – Jim Cramer