EURNZD Chart Analysis: 1. Dow theory- HH-HL 2. Bullish engulfer 2hrs ago 3. False breakout at Fib Retracement level 0.23 4. weekly support line at 1.644, close to fib 0.38 level 5. AB=CD pattern
BIASED LONG
Watch out level (breakout at 1.6442 support level) OR Fib 0.38
Plan A Take entry right now at 1.6523 SL at 1.6438 or at fib level, right below the support line
Plan B Wait for further confirmation of the false breakout at fib 0.23 level, Take entry at 1.6566 TP1 at point B=1.6625 TP2 at point D SL, in this case, should be right below at point C or at the support level
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