Evening Traders,
Today’s analysis – EURNZD- trading at oversold conditions approaching long liquidity, a bounce here is probable.
Points to consider,
- Bearish Price Action
- Untapped Long Liquidity
- Local S/R Resistance (.50 Fibonacci Confluence)
- RSI Oversold
EURNZD’s immediate price action is bearish under local S/R, this allows us to have a bearish bias on the market.
Price action is likely to have a bounce at long liquidity, this allows for a long scalp play into local S/R.
Local S/R being the objective and in confluence with the .50 Fibonacci, a bearish retest here is probable.
The RSI is in oversold conditions, indicative of an oversold bounce play coming to fruition as price action deviates back to local S/R.
Overall, in my opinion, EURNZD is likely to revert back allowing for a scalp long into Local S/R. Price Action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius
Today’s analysis – EURNZD- trading at oversold conditions approaching long liquidity, a bounce here is probable.
Points to consider,
- Bearish Price Action
- Untapped Long Liquidity
- Local S/R Resistance (.50 Fibonacci Confluence)
- RSI Oversold
EURNZD’s immediate price action is bearish under local S/R, this allows us to have a bearish bias on the market.
Price action is likely to have a bounce at long liquidity, this allows for a long scalp play into local S/R.
Local S/R being the objective and in confluence with the .50 Fibonacci, a bearish retest here is probable.
The RSI is in oversold conditions, indicative of an oversold bounce play coming to fruition as price action deviates back to local S/R.
Overall, in my opinion, EURNZD is likely to revert back allowing for a scalp long into Local S/R. Price Action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
It does not matter how slowly you go as long as you do not stop.”Confucius
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Claim $1000 Deposit Bonus 🎁
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.