EURNZD: Steep Channel continuation setup

kelmarin

EURNZD continues to rise within a steep ascending channel, maintaining a well-structured sequence. No signs of exhaustion are evident yet, as bullish momentum remains strong and price action continues to respect both the midline and lower boundary of the channel.

This ongoing strength suggests that buyers remain in control, and unless we see a clear shift in structure, such as a break below channel support or loss of momentum, the trend remains intact.

🟢 Trend Bias: I remain bullish on EURNZD while price stays within this channel. Any pullbacks toward the lower channel boundary or previous breakout zones may offer continuation opportunities.
🎯 Target: My upside target is 1.983, which aligns with the projected upper boundary of the ascending channel and makes a good technical target if the structure continues to hold.

🟥 Invalidation: A confirmed breakdown below the channel with follow-through would challenge this bias and signal the possibility of a deeper corrective move.

For now, the structure favors trend continuation over reversal.

Just sharing my thoughts on support and resistance, this isn’t financial advice. Always confirm your setups and manage your risk properly.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

semalam

Dagangan aktif

Opening a long right here