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elyask120
Feb 21, 2024 4:54 AM

EUR NZD Possible bounce from support Long

EUR/NZDOANDA

Description

Hi Guys

The Eur NZD is heading into an area of strong support which was used recently for a nice move up. The area has been tested multiple times as both support and resistance previously.

If price reaches the same support area we will likely see at least a bounce if not the same sort of move it made previously.

There is a crab harmonic pattern with good fib ratios that has the 1.618 entry exactly in the support zone as well.

4 hr RSi is not in over sold but 1 hour is and showing divergence.
I will be monitoring this pair should price reach that level for entry reason around the crab completion point.. i.e double bottom , hammer or engulfing candle etc on lower time frame.

Safe Trading all
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