EURNZD Long
Daily Bias Bullish.
Fundamentally, NZD news have been bearish. EUR is more neutral movement. with NZD CPI fall.
Price had a strong pullback to a daily horizontal level. Price did a short consolidation and broke out.
Price is reacting to both trendline and support level of higher TF in H4/Daily. Price closed above the H1 resistance level of consolidation.
Long trade set at the broken resistance of H1 and target Swing high of daily TF R:R 1:4.
SL is below the swing low.
Confluence
Higher TF (W/D/H4) - Bullish trendline and broken resistance level
Lower TF (H1/M30/M15) - Broken resistance level
Candle - Bullish momentum candle
Fundamentally, NZD news have been bearish. EUR is more neutral movement. with NZD CPI fall.
Price had a strong pullback to a daily horizontal level. Price did a short consolidation and broke out.
Price is reacting to both trendline and support level of higher TF in H4/Daily. Price closed above the H1 resistance level of consolidation.
Long trade set at the broken resistance of H1 and target Swing high of daily TF R:R 1:4.
SL is below the swing low.
Confluence
Higher TF (W/D/H4) - Bullish trendline and broken resistance level
Lower TF (H1/M30/M15) - Broken resistance level
Candle - Bullish momentum candle
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