Forex

Asian Session Update: EUR/NZD Descending Trend Line Marks the Downtrend

October 30, 2018

2 min read

tarantula fx

Head of Trading

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Asian Session Update: EUR/NZD Descending Trend Line Marks the Downtrend

The EUR/NZD has formed a downtrend and it still capped below the descending trend line. For a further continuation down the pair should close below 1.7424.

1.7424 is a strong support cluster. Both W L3 and M L3 camarilla pivots make a strong support. However, a rejection close to 1.7517 should aim for 1.7456 and 1.7424. Below 1.7424 we could see 1.7372. Traders should also pay attention to 1.7334 and potentially 1.7288. However a candle close above 1.7571 will negate this scenario as the market will become bullish.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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