EURNZD Multi TF Analysis, 30th June 2021
Daily Trend : Bullish
4H Trend : Bearish
Trade Scenario 1:
Although EN is still Bullish in Daily but in 4H & 1H we spot 3 different things for consider that bear is controlling the market
1. Break the Trendline in 4H timeframe
2. Break the last LL and now forming LH
3. Reverse at 61.8% fibs level
4. Break minor Support in 1H
So we could jump to 1H timeframe to find an ideal entry area which is around 1.7000 which also become a support become resistance area.
Trade Scenario 2:
To take long position on EN we need to close above 1.7000 with bullish candle
4H Trend : Bearish
Trade Scenario 1:
Although EN is still Bullish in Daily but in 4H & 1H we spot 3 different things for consider that bear is controlling the market
1. Break the Trendline in 4H timeframe
2. Break the last LL and now forming LH
3. Reverse at 61.8% fibs level
4. Break minor Support in 1H
So we could jump to 1H timeframe to find an ideal entry area which is around 1.7000 which also become a support become resistance area.
Trade Scenario 2:
To take long position on EN we need to close above 1.7000 with bullish candle
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