Pardon my rough chart, Hoping you will grasp something useful from this. The EurNzd has been rallying throughout this week, I decided to do a pretty nice analysis.
I am kinda bearish on this pair, the chart displayed a nice Inverted Cup and Handle pattern which we all know is somewhat or most times Bearish. We can notice that the top of the handle resistance is pretty rigid, and keeps resisting the trend from soaring higher.
In forex classes, they do explain how to expect a breakout from each sides, if you notice the support of this handle has been attacked so often and it keeps rebounding. We should expect a break from the support sooner or later.
Why do I say so? try hitting a door with a sledge hammer consistently and watch what happens!!! Thanks, like and comment to help support my new ideas. Do follow me also!!
I am kinda bearish on this pair, the chart displayed a nice Inverted Cup and Handle pattern which we all know is somewhat or most times Bearish. We can notice that the top of the handle resistance is pretty rigid, and keeps resisting the trend from soaring higher.
In forex classes, they do explain how to expect a breakout from each sides, if you notice the support of this handle has been attacked so often and it keeps rebounding. We should expect a break from the support sooner or later.
Why do I say so? try hitting a door with a sledge hammer consistently and watch what happens!!! Thanks, like and comment to help support my new ideas. Do follow me also!!