🔹 Symbol: EUR/NZD
🔹 Current Price: 1.83706
Key Observations:
- Recent price action suggests a bearish trend as EUR/NZD approaches a critical resistance zone, indicating potential downside momentum.
- Indicators such as RSI and MACD on higher timeframes show signals of weakening bullish strength, aligning with a possible trend reversal.
- This level is strategically placed below the current support zone, suggesting further bearish continuation if breached.
- Positioned conservatively above the resistance level to manage risk effectively.
- Targeting a prior support level, aligning with anticipated bearish momentum for optimal profit.
- Monitor price action closely at the 1.8350 level. Any breakout above this level could invalidate the bearish outlook.
- Ensure strict adherence to the stop loss to mitigate potential losses.
- If price action accelerates towards 1.8271, prepare for potential volatility as key levels are tested.
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