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Saturday, May 01, 2021

EurNzd Cup and Handle!!

EurNzd Cup and Handle!!

EUR/NZD OANDA:EURNZD

Pardon my rough chart, Hoping you will grasp something useful from this. The EurNzd has been rallying throughout this week, I decided to do a pretty nice analysis.

I am kinda bearish on this pair, the chart displayed a nice Inverted Cup and Handle pattern which we all know is somewhat or most times Bearish . We can notice that the top of the handle resistance is pretty rigid, and keeps resisting the trend from soaring higher.

In forex classes, they do explain how to expect a breakout from each sides, if you notice the support of this handle has been attacked so often and it keeps rebounding. We should expect a break from the support sooner or later.

Why do I say so? try hitting a door with a sledge hammer consistently and watch what happens!!! Thanks, like and comment to help support my new ideas. Do follow me also!!



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