Intraday Bearish:
Breakout of 1.79120 Support turned Resistance: A significant shift has occurred in the market dynamics as the former support level at 1.79120 has now transitioned into a resistance level. This suggests a notable change in sentiment and potentially a reversal in the prevailing trend.
1H (Coch) with Momentum Candlestick: The 1-hour (Coch) indicator combined with momentum candlestick patterns provides valuable insights into short-term market dynamics. This combination likely indicates a momentous move in price action, possibly signaling a continuation or reversal of the current trend.
My analysis focusing on the potential downward movement of EURNZD, targeting a specific support level at 1.78600.
Breakout of 1.79120 Support turned Resistance: A significant shift has occurred in the market dynamics as the former support level at 1.79120 has now transitioned into a resistance level. This suggests a notable change in sentiment and potentially a reversal in the prevailing trend.
1H (Coch) with Momentum Candlestick: The 1-hour (Coch) indicator combined with momentum candlestick patterns provides valuable insights into short-term market dynamics. This combination likely indicates a momentous move in price action, possibly signaling a continuation or reversal of the current trend.
My analysis focusing on the potential downward movement of EURNZD, targeting a specific support level at 1.78600.