EURNZD forex technical analysis | Our expectations:
Break below the main diagonal of the upward trend and an active downward movement. Correction to 50% Fibonacci provides a good opportunity to look for short positions at 1.7180 with SL at 1.7380.
Horizontal resistance levels and 50% Fibonacci dynamic resistance – negative for the pair.
SMA50 under SMA200, as the price is currently testing 200SMA – a negative signal.
DeM (14) rolls down over 0.7 in a redeemed market.
9th from DeM Sequential, and it’s good to wait for a price over the top of the bar with the 9th.
Aalternative scenario: Breaking the price over 200SMA and holding on top at least 1 whole bar above will break the negative scenario.
Trader Nikolay Georgiev