Hello Traders,
EURNZD rallied almost throughout this week and at some point it is expected to retrace. If you go on your monthly chart and use your Fibonacci to calculate the extension, you would notice that price just traded to the first expected price target and it make sense that the price should start the retracement from there.
On the 1-hour chart, you would notice that a CHOCH has formed which could lead to a retracement in price.
Follow for more updates like this.
Cheers,
Jabari
EURNZD rallied almost throughout this week and at some point it is expected to retrace. If you go on your monthly chart and use your Fibonacci to calculate the extension, you would notice that price just traded to the first expected price target and it make sense that the price should start the retracement from there.
On the 1-hour chart, you would notice that a CHOCH has formed which could lead to a retracement in price.
Follow for more updates like this.
Cheers,
Jabari