EURNZD Local S/R| 200 MA| .618 Fibonacci| Price Action

Evening Traders,

Today’s analysis – EURNZD- trading above Local S/R where further upside is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Support
(.618 Fibonacci)
- Daily S/R Resistance
- Oscillators Extended

EURNZD’s immediate price action is impulsive towards Local S/R that has been respected which is in confluence with the .618 Fibonacci.

The Daily S/R is immediate objective, exceeding this level is likely to continue a bullish trend.

Both oscillators are over extended; a reversion to their mean is highly probable.

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,

“When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.” – Mark Douglas