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EUR/NZD Potential Upward Movement

EUR/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.67547, 1.68598, 1.69000.

Key Support Levels: 1.66957, 1.65836, 1.65800.

Daily Chart:

The price on the higher time frame found support around the 1.65836 NZD level where it posted an engulfing bullish pattern which led to a move higher and breaking the key resistance level (1.66957 NZD). Further upside movement is expected in the coming hours.

EUR/NZD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bullish flag to the upside where it is retracing now to the highlighted zone before a new impulsive wave toward the target profit which is the 1.67547 NZD.

Signal Idea:

Buy Limit Order @ 1.66978

TP 1 @ 1.67528

TP 2 @ 1.68071

Stop Loss @ 1.66707

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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