Lingrid | EURNZD reached DEMAND zone. Potential LONG

26 Jun

On the daily timeframe, EURNZD has reached the demand zone. The sideways movement around key level at 1.75000. This suggests that the bearish momentum has slowed down. Notice that the price action is creating a narrowing triangle pattern, which implies that the price is consolidating and preparing for a breakout. It makes sense to consider buying at the bottom and selling at the top of this consolidation zone. I believe the market is poised to break through the range zone, leading to a potential pullback on the 4H chart. My goal is resistance zone at 1.75300


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻