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EUR/NZD Potential Upward Movement

EUR/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.62574, 1.62979, 1.63000.

Key Support Levels: 1.61810, 1.61554, 1.60985

1-Hr Chart:

The price on the higher time frame succeeded to break the Wyckoff accumulation phase to the upside after finding buyers on the bottom of this zone. The market is posting higher highs and lows showing that the price is controlled by the bulls. Further movement to the upside is expected in the coming hours.

EUR/NZD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the support hold the price from moving to the downside where buyers jump back and overwhelmed the sellers. This is seen by the big bodied bars under the bespoke support. We could see a lower correction to the bespoke support before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 1.61703

TP 1 @ 1.62559

TP 2 @ 1.62979

Stop Loss @ 1.61278

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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