EURNZD Technical Overview: H4 Chart Ascending Channel
As per our member’s request, we took a look at EURNZD’s technicals.
Upside: The pair completed a Bullish A Shark Pattern at 165070 on H1 Chart and trading in an uptrend channel. The target of the pair is 1.65900. If the pair breaks above 1.165900, the first target will be 1.66200. Breakout of 1.66200 would confirm the retest of the broken trend line at 1.66700 and 1.66950. 1.67600 is the top of the trading range. So the Long Setup can be: Long at the H1 closing above 1.65900 and the targets 1.66200 and 1.66950. Update: Targets Reached.
Downside: 1.65000 is the key support. The break below the support will carry the price 1.64400 and 1.63900
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
EURNZD: 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.