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EURNZD SHS Pattern And Midterm Trade Strategy

EURNZD SHS Pattern And Midterm Trade Strategy

As seen on the H4 chart, EURNZD formed a Head And Shoulders patterns. The neckline is located at 1.71000.

On the smaller chart timeframes, a bearish Butterfly Pattern completed. The pair may test 1.69860 – 1.69250 Fibonacci 38.20 and 61.80 retracements.

Those levels can be used as buying opportunities with the target 1.71000.

Break above the neckline will trigger the bullish move.

The target of the formation is 1.75000.

Before 1.75000, 1.72600 can be set as the first take profit level.

 

EURNZD SHS Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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