EUR/NZD Long-Term Trend: Bearish
Key Resistance Levels: 1.6886, 1.6909, 1.6962
Key Support Levels: 1.6802, 1.6686, 1.6611
The price on the higher time frame posted an engulfing bearish pattern around the strong resistance (1.6962 USDT mark). This led to a move downward and violated the support where it managed to break it to the downside.
EUR/NZD Medium-Term Trend: Bearish
On the 4-hour time frame, the pair succeeded to break the bullish channel to the downside. The price now it is traded below the strong resistance around the 1.6886 USD mark. A higher correction might be seen to the resistance before a move downward toward the target profit.
Sell Limit Order @ 1.6884
TP 1 @ 1.6804
TP 2 @ 1.6686
Stop Loss @ 1.6911
Trade Safely 🙂