EURNZD takes a break from a daily trend line where 1.83400 also serves as a strong Fibonacci Resistance Zone.
Bearish correction is expected to 1.80700, being the previous resistance level now turned support.
If the analysis above holds, a possible head and shoulder formation is expected before the massive drop of the pair. This s supported by a divergence seen on the weekly TF.
Bearish correction is expected to 1.80700, being the previous resistance level now turned support.
If the analysis above holds, a possible head and shoulder formation is expected before the massive drop of the pair. This s supported by a divergence seen on the weekly TF.