EURNZD has been trading inside a contracting triangle, formed by a series of lower highs and higher lows, indicating compression and distribution after a prior move. Price recently broke below the ascending trendline, signaling weakness and a potential bearish continuation.
The grey zone marks a key support-turned-supply area, where price previously reacted multiple times. Current candles are trading below this zone and below the moving average, suggesting sellers are in control.
As long as price remains below the broken trendline and supply zone, the bias stays bearish. A corrective pullback into the grey area could offer sell-on-rally opportunities, while continuation lower opens the door for a move toward psychological support near 2.0000.
The grey zone marks a key support-turned-supply area, where price previously reacted multiple times. Current candles are trading below this zone and below the moving average, suggesting sellers are in control.
As long as price remains below the broken trendline and supply zone, the bias stays bearish. A corrective pullback into the grey area could offer sell-on-rally opportunities, while continuation lower opens the door for a move toward psychological support near 2.0000.
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إخلاء المسؤولية
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