Long

EURNZD H4 LONG PRICE ACTION FORECAST

Price action trading with a downtrend channel, current bearishness supported by diminished MACD.

However, in the real of D1 price, although trading downward in a more prominent channel, it has just tested the support line from the channel heading towards the resistance line. It is allowing capturing that upward momentum.

As price is expected to reach close to the Fib level 61.8, a long entry is placed a few pips above the level.

The order:
Type: buy-limit
S/L: 63 pips - R:R | 1:4 -
T/P: aiming at the previous high from the channel.

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