EURNZD: A possible bearish move after the correction
EURNZD: A possible bearish move after the correction
The price is rising again after better-than-expected GDP data.
However, this rise should be temporary and we could soon see the EURNZD lower again.
EURNZD created a Head and Shoulders pattern, an ugly variation.
The price will likely rise to test the broken neckline of the pattern before it moves down again.
The stochastic indicator is showing this potential correction given that it is in oversold conditions. The fall should start soon.
You may find more details on the chart.
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The price is rising again after better-than-expected GDP data.
However, this rise should be temporary and we could soon see the EURNZD lower again.
EURNZD created a Head and Shoulders pattern, an ugly variation.
The price will likely rise to test the broken neckline of the pattern before it moves down again.
The stochastic indicator is showing this potential correction given that it is in oversold conditions. The fall should start soon.
You may find more details on the chart.
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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