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EUR/NZD Potential Upward Movement

EUR/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.69008, 1.69420, 1.69800.

Key Support Levels: 1.68024, 1.67749, 1.67506.

1-Hr Frame:

The price on the higher time frame is in a clear upward movement where higher highs and lows has been posted. The market succeeded to break the strong resistance area around the 1.68000 NZD mark. A correction has been posted that means after it we should expect an impulsive wave toward the next key resistance level.

EUR/NZD Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the price succeeded to break the bullish flag to the upside after finding buyers near the 50% Fibonacci retracement level. A slight lower correction could be seen before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 1.68232

TP 1 @ 1.69002

TP 2 @ 1.69420

Stop Loss @ 1.67872

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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