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Trading the Shift to Support

I’m looking at a high-probability move back to support on the EURNZD. After a clean Head and Shoulders pattern played out, price retraced perfectly into the sweet spot zone (0.618 Fibonacci level) and rejected it.

Technical View: The recent price action established a clear Lower High (LH) at that Fib level. With the momentum shifting, I am assuming we are now on the path to create a new Lower Low (LL).

Correlation Confirmation: This move aligns with the bearish EURAUD structure I was tracking last week. When the Euro starts showing weakness across these pairs, it adds a lot of weight to the downside bias.

The Goal: I’m trading this back down to the major support level around 1.95178.I’m playing the structure here—lower highs leading to lower lows is the bread and butter of this trend continuation.

#EURNZD #Forex #TechnicalAnalysis #Fibonacci #HeadAndShoulders #TradingView

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KhoraCapital

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.

KhoraCapital

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