EURNZD WEEKLY SCENARIO – 02 MARCH 2022

forex technical analysis

EURNZD Technical Analysis: Weekly Chart

forex technical analysis

In the weekly charts, EURNZD is trading in a down channel.

It is trading below all SMA.

The immediate support is 1.6318 & the resistance level is at 1.6528.

EURNZD is trading in the down channel until there is a trend reversal.

EURNZD Technical Analysis: Daily Chart

forex technical analysis

In the daily charts, EURNZD was trading in down channel.

It is trading below all SMA.

The immediate support is 1.6296 & the resistance level is 1.6474.

EURNZD was trading in the down channel before the breakout. 

How to Trade EURNZD this Week:

EURNZD will follow the downtrend until their trend reversal. So, remain bearish on EURNZD.

TRADE SUGGESTION- SELL AT 1.6408, TAKE PROFIT AT 1.6296 AND STOP LOSS AT 1.6474

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