EUR/NZD Long Term Analysis
Good morning traders, today we bring you a long-term analysis on the EUR/NZD pair.
🔸As we can see in the Weekly chart, the price broke the bullish channel to the downside, and from there began a downward movement that has not stopped until last week.
🔸The area where the price rebounded is a strong demand area. The last three times in the last four years that the price faced it, it had a bullish rebound. And this time it was not the exception.
🔸If the upward movement continues, we may see a retest of the supply zone approximately at 1.7300.
🔸In case of a bearish breakout, the bearish target is approximately at 1000 pips, at 1.5200.
🔸As we can see in the Weekly chart, the price broke the bullish channel to the downside, and from there began a downward movement that has not stopped until last week.
🔸The area where the price rebounded is a strong demand area. The last three times in the last four years that the price faced it, it had a bullish rebound. And this time it was not the exception.
🔸If the upward movement continues, we may see a retest of the supply zone approximately at 1.7300.
🔸In case of a bearish breakout, the bearish target is approximately at 1000 pips, at 1.5200.
Feragatname
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