You may be deceived if you trust too much, but you will live in torment if you don’t trust enough. ~ Frank Crane
Good morning. Euro is back to the upside, retesting $1.3200 and it seems that a breakout is in the cards.
Support formed by the rising trendline connecting recent higher lows is being tested again after Monday’s sell-off above 79.50. I remain bearish on USD and I think that a breakdown is more likely than a decent recovery
Still no real sign of relief, as recent attempts to recover have been weak. It’s probably best to wait for an exit out of the range
As seen below, recent pullbacks have been corrective and the candles are suggesting that buyers are slowly taking control. Though 1.3200 is still intact, but it’s worth keeping an eye on it and also consider buying on break higher
First resistance at 1.6180 was breached, so it’s time to focus on 1.6370/85 where next barrier is seen. I remain bullish on EURNZD for now
Not looking like the best pair to buy, but later there might be an opportunity to buy on break of downward trendline resistance.
Probably a nice bullish setup…
have a great day