EURNZD to head bullish?
Let me start off by saying this currency pair isn't my strong suite but if the confluences are there, hey. Go for it.
Okay.
I don't know if anyone else has noticed this but EURNZD has been trending since March 22nd this year. I used multiple timeframe analysis and well from the daily chart its just trending (said that already).
I also drew out some demand and supply zones. Price went down into my demand zone, formed a double bottom and it is likely to bounce off that zone and start heading bullish. If price doesn't start heading bullish now, it is likely to start from the 1.66600 psychological level.
Initially I was thinking price would bounce off the 1.67000 psychological level but price broke that level before forming a bullish engulfing candlestick on the 15m timeframe.
What do you think?
Okay.
I don't know if anyone else has noticed this but EURNZD has been trending since March 22nd this year. I used multiple timeframe analysis and well from the daily chart its just trending (said that already).
I also drew out some demand and supply zones. Price went down into my demand zone, formed a double bottom and it is likely to bounce off that zone and start heading bullish. If price doesn't start heading bullish now, it is likely to start from the 1.66600 psychological level.
Initially I was thinking price would bounce off the 1.67000 psychological level but price broke that level before forming a bullish engulfing candlestick on the 15m timeframe.
What do you think?
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