EURNZD: Bullish Move From Support Long

EUR/NZDOANDA

Description

⋅ Apr 17, 2024 8:30 AM

📈EURNZD formed a double bottom pattern following a test of a crucial intraday support level.

Breaking above the pattern's neckline is a significant bullish signal.

Anticipated upward movement could reach the 1.8100 level.

Comments

FXCM

⋅ Apr 17, 2024 9:26 AM

Nice to see the buy zone is based on multiple rejections before the breakout occurred. I suspect the buy zone might align with the 50% Fibonacci retracement, which is a good sign of bullish momentum. It appears the price might be above the Ichimoku cloud too. Good analysis. I'll keep an eye on it.

FirstNameHelen

⋅ Apr 17, 2024 12:20 PM

Hello! I expect that the price will rise a little and then rebound down lower than neckline 👀

WalterMoon

⋅ Apr 17, 2024 10:49 AM

This can happen, thanks for a great idea!

KaltoireCapital

⋅ Apr 17, 2024 9:59 AM

Nicely highlighted the key levels, I would consider selling at the resistance if it remains unbroken