EURNZD – Such an idea for the days ahead… price in consolidation in second half of April. Before the price was moving in a downtrend.
Breaking out of it may give a movement of about 130p. Since the MACD is very flattened, the signal to take a position will be a stronger downward swing (red) or upward swing (green).
I bet on it going down (macroeconomic and pandemic situation favours NZD), but for now I am waiting patiently for what the market will do…
Break out must be confirmed – daily candle should close outside the consolidation area. The closest demand zone (1.6520) can be the target for sellers, the closest supply zone ( 1.6975) will be target for bulls.
ongoing analysis https://t.me/TradewithDargo
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