FX.co ★ Daily Video Analysis: EURNZD approaching descending trendline, potential for reversal!

Today we take a look at EURNZD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching the sell entry level, in line with descending trendline resistance and 88% Fibonacci retracement, where we could see a reversal and further drop towards take profit levels, in line with 61.8% Fibonacci retracement and horizontal swing low support. Stochastics is also showing signs of bearish pressure in line with our bearish bias.