EUR/NZD Potential Upward Movement

EUR/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.6789, 1.6910, 1.6958

Key Support Levels: 1.6601, 1.6458, 1.6305

Daily Chart:

The price on the higher time frame has recently reversed the direction after having a bearish run. The pair found support at the 1.6152 level and bounced back after testing that area. It has broken a level of 1.6458 and sustained above that which indicates a bullish bias.

EUR/NZD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has recently broken a consolidation zone to the upside and sustained above that. It has now also broken and retested a minor level of 1.6601 before continuing the momentum. 

Signal Idea:

Buy Stop Order @ 1.6680

TP 1 @ 1.6771

TP 2 @ 1.6908

Stop Loss @ 1.6589

Trade Safely 🙂