EURNZD formed a cup and handle pattern following a test of an important horizontal support level, with the price breaking above a strong intraday resistance level and a falling trend line.
The highlighted blue area also serves as the neckline of the cup and handle pattern.
This breakout could lead to significant price increases, with targets set at 1.765 and 1.769. Traders should look for entry points based on the broken structure.
The highlighted blue area also serves as the neckline of the cup and handle pattern.
This breakout could lead to significant price increases, with targets set at 1.765 and 1.769. Traders should look for entry points based on the broken structure.
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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.