Market Snapshots

EURNZD Wave Analysis – 23 September, 2019

EURNZD Wave Analysis – 23 September, 2019
  • EURNZD reversed from resistance area
  • Likely to fall to 1.7310

EURNZD today reversed down from the resistance area lying between the strong resistance level 1.7600 (which has been reversing the price from the star of August) and the upper daily Bollinger Band.

The downward reversal from this resistance area is expected to create the daily reversal pattern Bearish Engulfing – if the price closes today near the active levels.

With the overbought daily Stochastic – EURNZD is expected to fall further and retest the next support level 1.7310.

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