Mihai_Iacob

EurNzd could drop to support

Short
FX:EURNZD   Euro / New Zealand Dollar
After the break above the horizontal resistance level from 1.7150, EurNzd has traded in a range between this zone and a high of around 1.75 for one month.
The pair couldn't continue its ascent and fell back down under support proving the up break as a false one.
After the recent low, a correction to the up side followed and the final of this correction is in the old resistance and is marked by two reversal candles, Friday's one being a pin bar.
I expect a new leg down from this pair and I'm looking to sell rallies.
The target can be set around 1.64 support and only a daily close above 1.7150 would negate this bearish scenario

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.