EURNZD -Weekly forecast, Technical Analysis & Trading Ideas

Midterm forecast:

• While the price is above the support 1.82059, resumption of uptrend is expected.
  
• We make sure when the resistance at 1.85400 breaks.
  
• If the support at 1.82059 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  

Technical analysis:

• The ascending flag taking shape suggests we will soon see another leg higher.
  
• While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  
• A peak is formed in daily chart at 1.85400 on 12/27/2024, so more losses minimum to Major Support (1.82059) is expected.
  
• Relative strength index (RSI) is 43.
  

Supports and Resistances:

1. 1.87650
   
2. 1.85400
   
3. 1.82059
   
4. 1.78251
   
5. 1.76500
   
6. 1.74929
   
7. 1.73804
   

__________________________________________________________________
❤️ If you find this helpful and want more FREE forecasts in TradingView,

. . . . . . . . Hit the 'BOOST' button 👍
. . . . . . . . . . . Drop some feedback in the comments below! (e.g., What did you find most useful? How can we improve?)

🙏 Your support is appreciated!

Now, it's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.

Have a successful week,
ForecastCity Support Team