EURNZD (2H Timeframe) Analysis
Market Structure:
The price is currently testing the upper boundary of a channel, which acts as a key resistance level. This indicates a potential bearish scenario if the price fails to break above and instead respects the resistance.
Forecast:
A sell opportunity may arise if the price retests the channel resistance and confirms rejection, signaling the potential for a move toward the channel's lower boundary.
Key Levels to Watch:
- Entry Zone: After the price retests the channel resistance and shows signs of rejection.
- Risk Management:
- Stop Loss: Placed above the channel resistance or the recent swing high to minimize risk.
- Take Profit: Target the midline or the lower boundary of the channel for potential downside movement.
Market Sentiment:
The current price action at the channel resistance indicates a bearish bias, with sellers likely to dominate if the resistance holds. Waiting for confirmation of a retest ensures a strategic entry aligned with market momentum.
Market Structure:
The price is currently testing the upper boundary of a channel, which acts as a key resistance level. This indicates a potential bearish scenario if the price fails to break above and instead respects the resistance.
Forecast:
A sell opportunity may arise if the price retests the channel resistance and confirms rejection, signaling the potential for a move toward the channel's lower boundary.
Key Levels to Watch:
- Entry Zone: After the price retests the channel resistance and shows signs of rejection.
- Risk Management:
- Stop Loss: Placed above the channel resistance or the recent swing high to minimize risk.
- Take Profit: Target the midline or the lower boundary of the channel for potential downside movement.
Market Sentiment:
The current price action at the channel resistance indicates a bearish bias, with sellers likely to dominate if the resistance holds. Waiting for confirmation of a retest ensures a strategic entry aligned with market momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Discover my trading strategies signals educational resources 👇
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.