Dear Traders, The EUR/NZD has formed a bullish breakout pattern that has broken above the trend line. A rejection from the POC zone could target higher
Dear Traders,
The EUR/NZD has formed a bullish breakout pattern that has broken above the trend line. A rejection from the POC zone could target higher levels.
1.6535-50 is the zone where we might see a bounce. The first target is 1.6562 followed by 1.6588 and 1.6602. However only a break above 1.6605 might lead the price towards 1.6640. As long as 1.6490 holds the price bulls should be safe. The EUR/NZD is more volatile pair than the EUR/USD so stops should be higher. If the price continues to ascend an emerging ascending scallop pattern may appear.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips, Nenad Kerkez aka Tarantula FX
Elite CurrenSea
