EURNZD - Daily Outlook for Dec 2020

EURNZD

This is my daily outlook for EURNZD for Dec 2020. Trades will be executed according to confirmation on 4H and 1H Time Frames.

Following scenarios are expected and planned for Dec 2020:

Scenario 1: A close below this daily candle could trigger a bearish momentum to retest the lows 1.6980 and form triangle of love and possibility of continuation.

Scenario 2: Support creation above 1.7340 level (Resistance Zone) will confirm bearish trend weakness and possibility of reversal higher Resistance zones.

Putting in consideration:

Monthly Close : Bearish
Weekly Close : Bullish
Daily Close : Bullish
4H : Solid Up Trend
1H : Solid Up Trend

Notes:

- From previous monthly candle close, current move from Dec 1 could be the monthly candle bearish wick for HTF bearish trend continuation.

- Dec from historical data is a reversal month, so putting in consideration the current bullish momentum could lead this month to close bullish.