Watching EURNZD I still believe we got some more room to the downside since we’ve rejected from the 50 fib on the weekly TF at 1.7050 . Last week we closed as a bullish engulfing which could lead to bullish interest but we havent closed above any declining MA on the weekly yet, currently testing the EMA as resistance. On the daily TF we are now breaking out the...
Hi traders.
Whenever you are looking at a technical level, always ask yourself the following:
- Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones)
- Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit)
- What are the underlying fundamental/sentiment drivers that...
