Mihai_Iacob

EurNzd- genuie break, finally?

Short
FX:EURNZD   Euro / New Zealand Dollar
After the second drop from 1.82, EurNzd started a range trading and consolidation just above 1.75 important support.
Yesterday's rise above consolidation's resistance was, in fact, a false break, that came to test the recently broken trend line and, after this test, the pair fell strongly under 1.75.
The violence of the drop could indicate that a genuine break under support will follow and in such an instance, the pair could drop to the next important level at 1.7
Also, looking at the daily posted chart, there is a Double top pattern with the measured target of 700 pips.
I'm bearish on this pair as long as 1.77 is intact.

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
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.