EURNZD - Inverse head and shoulders forming?
EURNZD is Bullish - We look to Buy at 1.7420
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Bespoke support is located at 1.7420.
▪️ A bullish reverse Head and Shoulders is forming.
▪️ We have a 61.8% Fibonacci pullback level of 1.7361 from 1.7653 to 1.7190.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 1.7420, resulting in improved risk/reward.
Stop: 1.7375
Target1: 1.7650
Target2: 1.7750
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Bespoke support is located at 1.7420.
▪️ A bullish reverse Head and Shoulders is forming.
▪️ We have a 61.8% Fibonacci pullback level of 1.7361 from 1.7653 to 1.7190.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 1.7420, resulting in improved risk/reward.
Stop: 1.7375
Target1: 1.7650
Target2: 1.7750
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