Categories: Technical analysis

EURNZD Analysis 06 November, 2020

• EURNZD reversed from support area

• Likely to rise to 1.7600                                                                                          

EURNZD recently reversed up from the support area lying between the key support level 1.7450 (which has been reversing the price from September) and the lower daily Bollinger Band.

The upward reversal from this support area will most likely create the daily candlesticks pattern Bullish Engulfing – strong bullish signal for EURNZD.

EURNZD is likely to rise further toward the next resistance level 1.7600 (former top of the previous ABC correction 2 from the start of November).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURNZD

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