EURNZD was travelling in a blue triangle, but as you know from our previous trades, price broke out to the downside, came back to retest the triangle at the 0.618 retracement level before making its way much lower then the previous support zone.
Price is now travelling in a descending channel and has touched the bottom after a large impulse move down, we expect price to come up to the 0.618 and then back down to the -1.27 extension level.
Price is now travelling in a descending channel and has touched the bottom after a large impulse move down, we expect price to come up to the 0.618 and then back down to the -1.27 extension level.
Trade closed: target reached:
TARGET HIT | TARGET WAS PERFECT , HIT JUST BEFORE THE SPIKE