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Euro / Dollar New Zealand
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EURNZD Long Analysis

Oleh NoCeilingsTrading
Weekly

  • Price found support and has been consolidating after a long downtrend.


  • The previous weekly candlestick was a large bullish candle, which showed there was a significant amount of bullish pressure.


    Daily
  • Price appear to have found support and formed a double bottom, which is a bullish candlestick pattern.


  • After the formation of the double bottom, I am expecting price to make a retracement to test the neckline.


  • The neckline also corresponds with the 50.0-61.8 Fibonacci level


  • Here is where I will be looking to enter a long position.
Candlestick AnalysisDouble BottomdoublebottomreversalDouble Top or BottomFibonaccilongeurolongsetupnecklinetradeshortnzdusd
NoCeilingsTrading

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