EURNZD Local OB| .618 Fibonacci| Price Action| Trend

Evening Traders,

Today’s analysis – EURNZD – trading towards a technical trade location where a bounce is probable,

Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- POC S/R Support
- VWAP S/R Support
- Swing High Objective

EURNZD’s immediate price action is corrective and is trading towards a technical trade location that has confluence with a Local OB| POC S/R and a VWAP S/R, allowing for a bullish bias.

The Swing High is the immediate objective, exceeding this level will lead to a trend continuation.

The current volume is below average, an influx is highly imminent on the next expansion.

Overall, in my opinion, EURNZD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis