EURNZD Swing High| Range High| Price Action| Trend
Evening Traders,
Today’s analysis – EURNZD – trading above range high support where a retest is probable,
Points to consider,
- Price Action Impulsive
- Range High Support
- .618 Fibonacci Support
- Low Volume
EURNZD’s immediate price action is trading above a key support, being the range high, allowing for a bullish bias.
The .618 Fibonacci is in confluence, holding this level has a higher probability of being tested on the first attempt.
The volume profile as of current is low, 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 used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The Tape Reader’s profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears to make a loss”
― Richard D. Wyckoff
Today’s analysis – EURNZD – trading above range high support where a retest is probable,
Points to consider,
- Price Action Impulsive
- Range High Support
- .618 Fibonacci Support
- Low Volume
EURNZD’s immediate price action is trading above a key support, being the range high, allowing for a bullish bias.
The .618 Fibonacci is in confluence, holding this level has a higher probability of being tested on the first attempt.
The volume profile as of current is low, 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 used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The Tape Reader’s profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears to make a loss”
― Richard D. Wyckoff