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If we look at the 4 hour chart of the EUR/NZD cross currency pair, it can be seen that there is a strengthening correction which is marked by its movement moving harmoniously within the Bullish Pitchfork channel and also confirmed by the EMA 20 which is above the EMA 50 but with deviations appearing in the price movement of EUR/NZD which forms a Higher High while the Stochastic Oscillator indicator forms a Double Top, then in the near future EUR/NZD has the potential to return to its initial bias where the level of 1.7647 will try to be broken if there is no further strengthening which breaks above the level of 1.7741 and the level of 1.7647 is successfully penetrated downwards then EUR/NZD Today it has the potential to fall lower to level 1.7540 as the main target and if momentum and volatility support it then level 1.7480 will be the next target to be aimed at.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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