EURNZD - An important price level to watch

PAIR IN FOCUS: EURNZD
ACTION: LONG
HORIZON: SHORT-TERM

After some consolidation at a Daily support/resistance level, price has bounced off. We can notice some bullish price action, and with NZD starting to correct downwards, we may expect further bullish momentum. TP 1 level is an important price level to watch -- it is a previously broken support level, and price could start the next bearish leg after a retest and rejection off that level. If you want to aim for the further TP levels, move the Stop Loss to break even for a risk-free trade.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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