EUR NZD Top down Analysis

28 thg 4, 2020

Monthly Chart: At a monthly resistance area 1.85389 after being on solid uptrend. Currently Monthly Candle is a large selling candle but this could just be a pullback. With only a few more days left in the month, I will have this pair under close watch knowing we are at a key monthly area

Weekly Chart: Price recent burst above the resistance area before reversing back down on the weekly chart but does not drop below the 50ema giving me a bullish bias still on this pair. There is a weekly SR lvl that price is currently respecting above the monthly SR area giving us further bullish bias. Price on the weekly is currently in a downtrend illustrated by the downward trend line but on the weekly time A fib tool was drawn from the recent swing low to the swing high to confirm price is currently in between 0.5-0.618 retracement level meaning this could just be a pullback and price could continue its uptrend. Need confirmation using price action data to verify pullback

Daily Chart: The daily candle is showing a bullish flag pattern. On the daily charts we see price is currently near the 50ema for the daily while also respecting the newly formed SR area. Am now looking for the of flag pattern and confirmation on all time frames before entry