EURNZD - Downside Momentum Play
I see high probability to the downside for the week ahead. Here's a breakdown of the five key points I'm looking at.
- Price tops out in late-August of 2023.
- Price fails to push above previous highs, which serves as another indication that this range marks a relative high point for this pair.
- Price re-enters this range, but sits lower than the previous high at #2.
- Very repeatable pattern as price re-enter a lower range.
- Watching the break and waiting for momentum to pick up to the downside as price is beginning to accelerate last Friday.