October 09, 2020 at 09:17AM
• EURNZD reversed from resistance area
• Likely to fall to 1.7700
EURNZD recently reversed down from the resistance area located between the key resistance level 1.7880 (top of the previous wave A), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the earlier downward impulse from August.
The downward reversal from this resistance area created the daily reversal pattern Shooting Star Doji – which marked the start of the active impulse wave (3).
EURNZD is likely to fall further toward the next support level 1.7700 – the breakout of which will open the way for further losses toward 1.7600 (low of wave B).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurnzd-wave-analysis-9-october-2020-20201009/
Selected by fonecable.com
- NEWS: Weekend – US fuel pipeline operator Colonial Pipeline cyberattack forced shutdown of its fuel network May 09, 2021 at 10:32PM
- NEWS: Weekend news – Iran says it will extend its (nuke) deal with the IAEA if needed May 09, 2021 at 10:25PM
- NEWS: Economic calendar due from the Asian session ahead – Monday 10 May 2021 May 09, 2021 at 09:37PM
- NEWS: NZ finmin Robertson speaking – says economic recovery better than expected May 09, 2021 at 09:20PM
- NEWS: Weekend – ECB’s Rehn wants the Bank to adopt the Fed’s inflation target approach May 09, 2021 at 09:16PM