EURNZD (DAILY): POTENTIAL UPTREND | WAITING FOR SIGNAL

١٠ فبراير ٢٠١٩

Notice that a "buy" engulfing candle from the buyers' zone ÁBCD reveals a momentum building signal for BUY. This is evident when we look at the market condition in the past from this zone (16th Oct '17; 11th Jan '18; 13th April '18; 19th June '18, 19th Dec '18 and now 5th Feb '19). Hence, the engulfing candle on the 5th of Feb '19 appears to be a signal for upside.
Speculation: Uptrend with a potential TP @ 322pips and SL @ 163pips
However, we shall also put into consideration the flag pattern formation on the lower time frame (4H and 2H) for BUY signal with the hope that a break to the upside happens.