InvestMate|EUR/NZD I'm not counting on increasesðķ
ðķEUR/NZD I'm not counting on increases
ðķThis time it's time for EUR/NZD
ðķLooking at the chart, with what strength it has been falling over the last few days.
ðķBearing in mind that in my opinion the Euro may weaken over the next few days. And the situation on the New Zealand Dollar is not clear(It has shown a really powerful rebound over the past weeks)
ðķLooking at the whole environment, I think that the currently ongoing downward wave may not end in the coming weeks.
ðķI determined the support zone based on the strongest fibo level of 0.618 along with the fact that this price level has been a strong resistance as well as support zone in the past.
ðķThe resistance zone is located at the 0.382 level where reversals have repeatedly occurred.
ðķThe scenario I am playing out is a continuation of the decline to the support zone. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ðķ *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðķThis time it's time for EUR/NZD
ðķLooking at the chart, with what strength it has been falling over the last few days.
ðķBearing in mind that in my opinion the Euro may weaken over the next few days. And the situation on the New Zealand Dollar is not clear(It has shown a really powerful rebound over the past weeks)
ðķLooking at the whole environment, I think that the currently ongoing downward wave may not end in the coming weeks.
ðķI determined the support zone based on the strongest fibo level of 0.618 along with the fact that this price level has been a strong resistance as well as support zone in the past.
ðķThe resistance zone is located at the 0.382 level where reversals have repeatedly occurred.
ðķThe scenario I am playing out is a continuation of the decline to the support zone. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ðķ *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
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