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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 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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