FX.co ★ Daily Video Analysis: EURNZD is facing bearish pressure, potential for a 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. EURNZD is facing bearish pressure as it continues to hold under the descending trendline resistance and Ichimoku cloud. A short-term reversal is possible and further drop to our take profit level at 1.68503, in line with our 78.6% Fibonacci extension and horizontal swing low support.