Similar to my EURAUD post, I see downside potential in the EURNZD pair as well. I plotted upper and lower boundaries of this daily range based on last week's prices.
Earlier today, price sold off, crossing back below the 1.88293 lower level. Not only is this signalling that price is unable to hold back within the range, the bearish candle is also an engulfing bar. It signals toady's close is so strong that it took out two days worth of gains.
In my short term forecast, I think downside pressure is due to form.
Earlier today, price sold off, crossing back below the 1.88293 lower level. Not only is this signalling that price is unable to hold back within the range, the bearish candle is also an engulfing bar. It signals toady's close is so strong that it took out two days worth of gains.
In my short term forecast, I think downside pressure is due to form.
