EURNZD Swing High| Price Action| 200 MA| .618 Fibonacci Evening Traders,
Today’s analysis - EURNZD- trading towards Local S/R where a bounce is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.618 Fibonacci & 200 MA confluence)
- Swing High Objective
- Oscillators Bullish Control Zones
EURNZD’s immediate price action is impulsive towards Local S/R that has technical confluence with the .618 Fibonacci and 200 MA. This area is a trade location with a probability of trend continuation.
Both Oscillators are currently trading in bullish control zones, remaining in these areas is indicative of strength in the market.
Overall, in my opinion, EURNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder
