I am extending my previous forecast.
Since the price is in the support zone.
The price has come to a strong support zone.
This zone is formed at the intersection of the level and the 2015 support line.
The price is around 1.654.
From this zone, I expect the price to rise...
EURNZD - Intraday - We look to Buy a break of 1.7004 (stop at 1.6974)
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A break of 1.6880 is needed to confirm follow through bullish momentum.
Price action looks...
On this pair we also see the completion of the bat pattern on the 4 hr chart which signaled us to buy the pair at the completion of the 4th leg of the pattern. Our take profits are set at the green zones. FX:EURNZD
We have already closed our short position for 300+ pips and price form a nice pinbar.
The way we look at support and resistance is not your usual textbook method and is working great.
What's the next plan ? is to short at the high again about 1.53 zone
2. EURNZD - SHORT (20th February 2017).
Another short entry for EURNZD.
Putting a lot of studying time on key levels.
Just trying to spent a lot of time in front of charts to get used to the way I look at the market and drawing key levels.
I want to learn more about price action next and candle stick patterns such as bullish engulfing candles.