EURNZD is currently trading in a clear resistance zone that has consistently acted as a barrier for bullish momentum. This area aligns with prior supply levels and could attract some seller interest.If rejection patterns, such as bearish engulfing candles or long upper wicks, emerge, I anticipate a move toward 1.83500. However, a break above this zone could signal a potential shift in market sentiment.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation before jumping in.
Trade active
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.