TF: 1 hr
EURNZD has been in a steep downtrend since spring of 2020; however, I do think at some point in the near future, price may correct upwards for a few months. Depending on how price plays out here we may see a move to the upside before we move back down (I think EN will continue to sell in the future over the longer term). Price may break the bottoms low here to trap sellers before moving up.
Here is my previous shorter TF idea:
EURNZD has been in a steep downtrend since spring of 2020; however, I do think at some point in the near future, price may correct upwards for a few months. Depending on how price plays out here we may see a move to the upside before we move back down (I think EN will continue to sell in the future over the longer term). Price may break the bottoms low here to trap sellers before moving up.
Here is my previous shorter TF idea:
Note
broke the lows here, we will have to see how price plays here and if it tests and rejects or breaks the resistance zoneNote
Looks like price broke lows as expected. We may have a nice setup with some bullish divergence....i would not long this quite yet since it is so bearish on higher TFs. Need some volume and confirmation if a breakout occurs...
Note
Might see if it breaks the incoming resistance zone...
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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.