EURNZD -Weekly forecast, Technical Analysis & Trading Ideas

19 feb

Midterm forecast:

• While the price is above the support 1.82059, resumption of uptrend is expected.
  
• We make sure when the resistance at 1.85400 breaks.
  
• If the support at 1.82059 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  

Technical analysis:

• The ascending flag taking shape suggests we will soon see another leg higher.
  
• While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  
• A peak is formed in daily chart at 1.85400 on 12/27/2024, so more losses minimum to Major Support (1.82059) is expected.
  
• Relative strength index (RSI) is 43.
  

Supports and Resistances:

1. 1.87650
   
2. 1.85400
   
3. 1.82059
   
4. 1.78251
   
5. 1.76500
   
6. 1.74929
   
7. 1.73804
   

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Now, it's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.

Have a successful week,
ForecastCity Support Team

10 mar

Trade attivo

As we had forecasted, the price started its ascent and started its main upward movement by breaking the flag pattern and breaking the 1.8540 line.