EURNZD 2 Sell Development Scenarios

23 Mar 2022

Hello traders:

Here on updating more on EURNZD's bearish price action.

After the strong bearish impulse phase down, we can expect consolidation to form before the next possible continuations.

Price has currently formed an ascending channel correction, and indeed a bearish development on the lower time frames has push down the price now.

As we get close to the previous lows, 2 possibilities could develop:

Either we can see price breaks the lows and continue down to the next higher time frame swing lows
or
makes a corrective up move to the previous highs simply evolving the structure to a bigger correction, then still look for bearish price action for sell.

thank you

24 Mar 2022

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