EURNZD Buy a break setup.
Updated
EURNZD - Intraday - We look to Buy a break of 1.6885 (stop at 1.6856)
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A break of 1.6880 is needed to confirm follow through bullish momentum.
Price action looks to be forming a bottom.
We look for a temporary move higher.
Our profit targets will be 1.6972 and 1.7024
Resistance: 1.6880 / 1.6940 / 1.6980
Support: 1.6810 / 1.6750 / 1.6700
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A break of 1.6880 is needed to confirm follow through bullish momentum.
Price action looks to be forming a bottom.
We look for a temporary move higher.
Our profit targets will be 1.6972 and 1.7024
Resistance: 1.6880 / 1.6940 / 1.6980
Support: 1.6810 / 1.6750 / 1.6700
Trade closed: stop reached
Stop reached
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