empty
 
 
22.06.2021 12:11 PM
EURNZD bullish breakout, potential for further upside!

This image is no longer relevant

Price has just seen a bullish breakout from descending trendline resistance-turned-support, and is now holding above both the ascending trendline and moving average support. We could potentially see further upside above 1st support, in line with 78.6% Fibonacci retracement, horizontal pullback support and moving average support, towards 1st resistance, in line with 127.2% Fibonacci extension and horizontal swing high resistance.

Trading Recommendation

Entry: 1.70571

Reason for Entry:

78.6% Fibonacci retracement, horizontal pullback support and moving average support

Take Profit: 1.71244

Reason for Take Profit:

127.2% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.70186

Reason for Stop Loss:

50% Fibonacci retracement and horizontal swing low support

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback