23.09.2020
The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. The ascending H2 level pattern is truncated, it ended with the breakout of the inclined channel (aC), which resulted in the formation of a start fractal below the 135 moving average.
A breakout of the start fractal will result in the formation of a descending wave pattern within the overall downtrend. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals overbought condition.
EURNZD rate online: monitor the price movement in real time.
Trading recommendations:
Sell on the breakout of the 1.7584 start fractal.
Stop Loss: 1.7707.
Target levels: 1.7470; 1.7332.
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