EURNZD Market Outlook
The price on EURNZD has recently approached the 4H Supply Zone around the 1.96000 level and has flipped the short-term bearish structure, indicating potential bullish momentum. However, given the presence of supply, I'm monitoring the possibility of a retracement from this zone.
My primary scenario involves a short-term rejection from the 1.96000 Supply Zone, targeting a move down into the 1.94000 Demand Zone. From there, I will look for a sell-to-buy setup, with the intention of positioning for a larger upside continuation, provided bullish order flow confirms.
Alternatively, if buyers prove to be significantly strong and supply fails to hold, price may break through the 1.96000 zone and extend higher towards the daily wick area near the 1.98000 level.
Both scenarios remain valid depending on price action and volume behavior at key levels.
Will be watching 15min structure before entering any trade.
The price on EURNZD has recently approached the 4H Supply Zone around the 1.96000 level and has flipped the short-term bearish structure, indicating potential bullish momentum. However, given the presence of supply, I'm monitoring the possibility of a retracement from this zone.
My primary scenario involves a short-term rejection from the 1.96000 Supply Zone, targeting a move down into the 1.94000 Demand Zone. From there, I will look for a sell-to-buy setup, with the intention of positioning for a larger upside continuation, provided bullish order flow confirms.
Alternatively, if buyers prove to be significantly strong and supply fails to hold, price may break through the 1.96000 zone and extend higher towards the daily wick area near the 1.98000 level.
Both scenarios remain valid depending on price action and volume behavior at key levels.
Will be watching 15min structure before entering any trade.
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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.
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.