EURNZD Downtrend in Play – Key Breakdown & Bearish Outlook

25 Mar

The 4H chart of EURNZD shows a descending trendline resistance, indicating a sustained bearish trend.

Price is rejecting the 1.8850 resistance level, aligning with the 38.2% Fibonacci retracement, reinforcing the bearish bias.

A potential breakdown could lead the pair towards the 1.8726 support level (50% Fibonacci), followed by the 1.8200 key demand zone.

Trade Setup & Levels:
Entry Zone: Below 1.8820 after a confirmed rejection.

Target 1 (TP1): 1.8726 – mid-support level

Target 2 (TP2): 1.8200 – major demand zone & 100% Fibonacci extension

Stop Loss (SL): Above 1.8987 to avoid false breakouts.

Bearish Confirmation Factors:
✅ Lower highs and trendline rejection, confirming downward momentum.
✅ Breakdown of support zones, leading to extended selling pressure.
✅ Fibonacci confluence, reinforcing downside targets.

Conclusion:
A break below 1.8726 will accelerate selling momentum, with 1.8200 as the ultimate bearish target. Traders should watch for confirmation signals before entering short positions. 📉

26 Mar

Not

EURNZD sell trade hitting targets for our Norwich traders! 🎯 +134 pips and 1:1 reached. Chart analysis suggests further downside potential. Stay tuned for updates!