VincePrince

NZDEUR, Bull-Flag-Formation, Considerable Breakout Perspectives!

FX_IDC:NZDEUR   NEW ZEALAND DOLLAR / EURO
Hello,

Welcome to this analysis about NZDEUR and the 4-hour timeframe perspectives. As I discovered NZDEUR is developing some interesting structures from where it has the ability to build up and emerge with a breakout to add with increased volatility . As when looking at my chart now we can watch there how NZDEUR recently managed to bounce above the 10-EMA in red and above the dynamic horizontal-support-line, whereas the dynamic horizontal-support-line is more important here as it is major support because NZDEUR in the previous price-action had this line both as support and resistance , therefore, it is now serving as a strong resistance now. What is crucial in this case is that NZDEUR also forms a deliberate bull-flag-formation above these zones marked in my chart in black with the coherent wave-count within already completed and therefore NZDEUR is technically ready to set up and complete the formation with a breakout above the upper boundary, when this happens and NZDEUR closes above the upper boundary it will activate the upper target zone marked in my chart at the 0.606 level. As NZDEUR already increased with bullishness in the structure the breakout has a high likelihood to show up in the upcoming times. Once the target-zone has been reached the situation needs to be elevated anew and NZDEUR needs to show if it manages to continue bullishly or firstly reverses which will be not unlikely.

In this manner, thank you for watching my update-analysis about NZDEUR and the main bull-flag-formation-structure with the incoming high-likelihood breakouts, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.

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