EURNZD Bullish Shark And Support Breakout
We keep our bearish bias unchanged medium-term in EURNZD.
1.77 and 1.74500 were our first short trades. ( Wedge and Head&Shoulders Patterns)
Then we sold the bearish Shark Pattern at 174880. Our trade reached our TP3 at 1.73400 and the trade is closed.
On the bigger charts, the price closed the week below EMA50 Daily at 1.73630.
The pair is pricing the Bullish Shark Pattern now. 1.74000 and 1.74400 are the targets of the pattern as shown in the chart.
On the H4 chart, the upside is capped by SMA100 and SMA200 at 1.74560.
We will sell the pair if the price pulls back to 1.74500. ( Target 2 of the Bullish Shark )
1.72800 is the key support. A fresh short opportunity can be used by the breakout of the support.
Medium Term targets of the pair are 1.72100, 171550 and 170898.
A Bullish Deep Crab pattern would be completed at 1.70100 and can be used as a buying opportunity.
Trade setups with entry alert have been updated in EURNZD Live Interacive charts for the members.
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EURNZD Forecast: 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
