4H Analysis on EURNZD

7 Şub 2023

Hello traders. On this 4H analysis of EURNZD, we have the formation of a broadening triangle. Price has recently been rejected from the resistance level in the 1.71000 region. If this level is retested, a good entry reason for this short position would be the confirmation of a trend reversal pattern or a candlestick reversal pattern. Upon confirmation of a reversal pattern, the projected target would be the support level in the 1.67500 region.
A conservative entry would be to wait for the retest of the resistance level, while an aggressive entry would be to enter without a retest.

19 Şub 2023

İşlem elle kapatılmış

Price cam pretty close to our target before heading back to the entry point. We are close this trade at break even as the setup has changed.