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EUR/NZD Potential Upward Movement

EUR/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.6914, 1.6986, 1.7000

Key Support Levels: 1.6802, 1.6674, 1.6557

Daily Chart:

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

1-hour Chart:

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.

Signal Idea:

Buy Market Order @ 1.6824

TP 1 @ 1.6908

TP 2 @ 1.6986

Stop Loss @ 1.6783

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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