Hi Guys
The Eur NZD is heading into an area of strong support which was used recently for a nice move up. The area has been tested multiple times as both support and resistance previously.
If price reaches the same support area we will likely see at least a bounce if not the same sort of move it made previously.
There is a crab harmonic pattern with good fib ratios that has the 1.618 entry exactly in the support zone as well.
4 hr RSi is not in over sold but 1 hour is and showing divergence.
I will be monitoring this pair should price reach that level for entry reason around the crab completion point.. i.e double bottom , hammer or engulfing candle etc on lower time frame.
Safe Trading all
The Eur NZD is heading into an area of strong support which was used recently for a nice move up. The area has been tested multiple times as both support and resistance previously.
If price reaches the same support area we will likely see at least a bounce if not the same sort of move it made previously.
There is a crab harmonic pattern with good fib ratios that has the 1.618 entry exactly in the support zone as well.
4 hr RSi is not in over sold but 1 hour is and showing divergence.
I will be monitoring this pair should price reach that level for entry reason around the crab completion point.. i.e double bottom , hammer or engulfing candle etc on lower time frame.
Safe Trading all