EURNZD just broke structure on the 4H chart and is now pulling back into a zone where things could get interesting. After the initial drop, price is retracing into an area filled with imbalance and liquidity.
This looks like a setup where the market may lure in buyers before making its next move lower. If sellers step in where expected, we could see a clean continuation to the downside.
As long as price remains beneath that reaction zone, the bearish narrative stays intact. One to keep an eye on in the coming sessions.
Just a word of caution: Always wait for a clear change of character on the 15-minute timeframe before considering any entry. If that confirmation doesn’t show up, price can easily break through the zone and continue climbing.
This looks like a setup where the market may lure in buyers before making its next move lower. If sellers step in where expected, we could see a clean continuation to the downside.
As long as price remains beneath that reaction zone, the bearish narrative stays intact. One to keep an eye on in the coming sessions.
Just a word of caution: Always wait for a clear change of character on the 15-minute timeframe before considering any entry. If that confirmation doesn’t show up, price can easily break through the zone and continue climbing.
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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.
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.