EURNZD MULTI TIMEFRAME STRUCTURE ANALYSIS

The pair has violated the downward channel it was trading in, and reached a massive structural resistance level.

The current bet is that it will bounce from the level back to the channel line, which is the new support, as it had done many times before, proving the strength of the level.

If not, then we will get stopped by a breakout. Wait for the breakout to get confirmed and go long after the retracement.

Here is what the pair looks like on the daily timeframe.

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Comment:

Target1 reached!

Comment:

Target 2 reached!