EUR/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.6914, 1.6986, 1.7000
Key Support Levels: 1.6802, 1.6674, 1.6557
The price on the daily time frame is in a clear uptrend where the pair succeeded to break the daily resistance (now support), and posted an inverse head and shoulders. We are expecting further movement to the upside in the same direction of the main trend.
EUR/NZD Medium-Term Trend: Bullish
On the 1-hour time frame, the pair is trading inside a wedge formation near the area of confluence which is made of the support, and the 61.80% Fibonacci retracement level. This could lead to a move upward toward our target profit.
Buy Market Order @ 1.6824
TP 1 @ 1.6908
TP 2 @ 1.6986
Stop Loss @ 1.6783
Trade Safely 🙂