EURNZD has been forming lower lows and lower highs as price rejected the key monthly highs.
Price now looks likely to continue its downtrend into the major demand zone at 1.6400.
Look for price to retrace to the sell zone before looking for the downtrend to continue.
The 20 and 50EMA crossing over adds confluence to this market moving lower.
Price now looks likely to continue its downtrend into the major demand zone at 1.6400.
Look for price to retrace to the sell zone before looking for the downtrend to continue.
The 20 and 50EMA crossing over adds confluence to this market moving lower.