Lingrid | EURNZD bearish MOMENTUM on the DAILY. Short

The price perfectly fulfilled my last idea. EURNZD made a significant nosedive on the daily timeframe but has since pulled back after bouncing off a support level. This pullback resulted in a 50% retracement, with rejection candles appearing on the daily chart. Currently, the price is testing the psychological level of 1.8000, and it's evident that the market is moving sideways just below this level, indicating that bears are beginning to show downward pressure. Given this setup, I anticipate a potential fake breakout or a price squeeze at the resistance, which could then lead to a subsequent bearish move. My target is support level at 1.77800

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻