EURNZD is currently retesting a strong resistance zone marked in blue.
This area has repeatedly attracted sellers in the past, making it an important level to watch in the coming sessions.
However, despite the rejection from resistance, the bears have not fully taken control yet. 🐻
For the bearish scenario to gain momentum, a break below the last major low marked in red is needed.
Such a breakdown would confirm that sellers are regaining control and could open the door for a deeper correction.
📉 In that scenario, we will be expecting further downside toward the lower blue demand zone, which represents the next major support area on the chart.
Until then, the resistance zone remains the key area to monitor.
Will the bears finally break support and trigger the next leg lower? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
This area has repeatedly attracted sellers in the past, making it an important level to watch in the coming sessions.
However, despite the rejection from resistance, the bears have not fully taken control yet. 🐻
For the bearish scenario to gain momentum, a break below the last major low marked in red is needed.
Such a breakdown would confirm that sellers are regaining control and could open the door for a deeper correction.
📉 In that scenario, we will be expecting further downside toward the lower blue demand zone, which represents the next major support area on the chart.
Until then, the resistance zone remains the key area to monitor.
Will the bears finally break support and trigger the next leg lower? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
📊I help you turn charts into a career
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Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
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Trusted Crypto Prop Firm
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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.
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
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.