Hello traders, I would like to share my EURNZD Bullish setup with you. We are on the clear demand zone and also in the bullish flag pattern. I expect on EURNZD is after push down to around 1.67200-1.67000 and get rejection from this point to push upside. My RRR is 5.92 and target is 1.68850 for this trade.
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We're seeing EURNZD moving towards potential horizontal support at 1.6700.
This area has acted as support twice in the last 2 months.
Something interesting is EURNZD moving in a harmony and has been respecting several harmonic pattern movements.
I am planning on buying EURNZD when it touches 1.6700.
Buy EURNZD 1.6700
Stop loss 1.6650
Take profit 1.6930...
Since finding the bottom, EurNzd is trading in a range.
However, the pair looks like is pressing in 1.7 resistance and a break is imminent.
Swing traders can target 1.79 and a break under 1.66 would negate this scenario
On the EURNZD daily time frame, we can see its breakout the final resistance created last year in December. We also found its breakout a Ninety-degree reverse shield pattern as well :D. We are expecting a further bullish move starting the current price zone.
Welcome to our Trade Setups - May 16th ( EURNZD ) !
ENTRY LEVEL @ 1.67663
SL @ 1.67257
TP @ 1.68475
Max Risk: 1% - 3%!
Risk/Reward Ratio: 2
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1. Large Expanding Triangle with Flagpole
2. Fibonacci Retracement hit 0.618 (Golden Zone)
3. Fibonacci Expansion Safe Level at 1 (Grey Zone) would also hit Trendline and Horizontal Resistance