EURNZD 26/APR/2023
Based on recent price action, EURNZD has formed a bullish channel pattern.
Last week, the price breakout from the resistance area of the bullish channel, indicated a strong buy signal.
This week, there is a possibility of price correction and the price retraced, but still managed to find support in the bullish region.
The stochastic 5,3,3 indicator has crossed below the oversold value, supporting the bullish sentiment.
False breakout is still possible and the price may return to the bullish channel area.
Last week, the price breakout from the resistance area of the bullish channel, indicated a strong buy signal.
This week, there is a possibility of price correction and the price retraced, but still managed to find support in the bullish region.
The stochastic 5,3,3 indicator has crossed below the oversold value, supporting the bullish sentiment.
False breakout is still possible and the price may return to the bullish channel area.
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