Strong Bullish Momentum for EUR/NZD - Potential for Long Setup.
The EUR/NZD is currently exhibiting robust bullish momentum, characterized by lower highs and higher highs occurring within a bullish channel. In a recent development, the price underwent a retest of the bullish trendline channel last Friday, followed by a subsequent higher high. Our analysis suggests that this strong momentum of the EUR may persist, with the price potentially reaching the next hurdle in the resistance area of 1.8000 and 1.8050. We are therefore considering a long setup in light of these observations.
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