Evening Traders,
Today’s analysis – EURNZD- trading at a key area of support where a bounce is probable,
Points to consider,
- Price Action Corrective
- Local OB Support
- POC S/R Support
- Low Volume
EURNZD’s immediate price action is trading at a key level of support that is in technical confluence with the POC, VWAP S/R and the Local OB, allowing for a bullish bias.
The current volume profile is below average, an influx is highly imminent on the next expansion.
The immediate objective is the upside resistance, exceeding this level will lead to a trend continuation.
Overall, in my opinion, EURNZD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“The big ones take the psychology out of the game. Have a game plan, and stick to it.” Tim Erber
Today’s analysis – EURNZD- trading at a key area of support where a bounce is probable,
Points to consider,
- Price Action Corrective
- Local OB Support
- POC S/R Support
- Low Volume
EURNZD’s immediate price action is trading at a key level of support that is in technical confluence with the POC, VWAP S/R and the Local OB, allowing for a bullish bias.
The current volume profile is below average, an influx is highly imminent on the next expansion.
The immediate objective is the upside resistance, exceeding this level will lead to a trend continuation.
Overall, in my opinion, EURNZD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“The big ones take the psychology out of the game. Have a game plan, and stick to it.” Tim Erber