EURNZD - Potential Short from Resistance Zone

Jan 17

EURNZD is currently approaching a significant supply zone near the 1.84500–1.85000 level. Historically, this area has acted as strong resistance, leading to bearish reversals. The recent bullish move into this zone suggests a potential for sellers to regain control and push prices lower.

A bearish confirmation, such as rejection patterns, bearish engulfing candles, or long upper wicks, would support the likelihood of a reversal. If the scenario materializes, the price may head toward the 1.83150 level, where buyers might step in again.

This setup aligns with a potential short-term retracement within the broader market structure. Traders should wait for confirmation of selling pressure before considering short positions.

Jan 17

Trade active

Jan 17

Trade closed: target reached

Trade position reached.
Anticipated :P