Vladimir Ribakov breaks down a bullish setup in EUR/NZD, noting that trendlines on the daily, 4-hour, and 1-hour charts have all broken upside. He uses Fibonacci levels and MACD to identify entry zones for a long position.
Is it time to get ready and buy the EUR/NZD? Let's watch the charts. Daily downtrend line is broken to the upside. While doing so, the 1-hour chart trend line is broken as well. 4-hour chart has broken its own trend line as well. 1-hour chart making higher highs on the chart with higher highs on the indicator, MACD in that case, hinting that the buyers are trying to take the control. If we plot Fibonacci on this current bullish wave, We will figure out the classical Fibo levels for possible bullish continuation. My plan, as long as these 2 zones hold, I will be looking for bullish signs and go long. Join Home Trader Club for complete trading courses, real-time trading education, and real-time trading opportunities.
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