EUR/NZD has been making a case for a downside correction a swing trade basis, although there are longer-term prospects for higher levels and the bulls are still doing some leg work on the shorter-term outlook.
The daily chart shows that a correction is imminent to target a prior resistance structure.
The 4-hr remains bullish above structure.
Monthly prospects for upside
Weekly bearish outlook
-637315777082931986.png)
Daily structure target
-637315777381372265.png)
Bears will target the tops of the extended W-formation, although bulls remain in control in shorter time frames.
4HR time-frame offers strong demand area
-637315791607492094.png)
There is the risk that the market moves higher prior to offering a shooting opportunity with good risk to reward.
Share
