Considering the double bottom from March and April 2022, EurNzd reversed its trend and started to trade in an up channel.
The pair made a high at the 1.75 zone in November and started to fall back to support.
From this support, the pair started to rise again and late December found the pair consolidating and slightly correcting this new leg up.
Yesterday's Pin Bac could be an indication that a new leg up will follow and a break back above 1.7 is probable.
Medium-term traders could have 1.75 as their target for buy trades and negation comes under yesterday's low
The pair made a high at the 1.75 zone in November and started to fall back to support.
From this support, the pair started to rise again and late December found the pair consolidating and slightly correcting this new leg up.
Yesterday's Pin Bac could be an indication that a new leg up will follow and a break back above 1.7 is probable.
Medium-term traders could have 1.75 as their target for buy trades and negation comes under yesterday's low
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.