Weekly Analysis for EUR/NZD
Technical Outlook by Shaker Trading
Strong Bullish Structure:
Powerful Ascending Channel (Weekly):
The pair is moving strongly within a well-defined rising channel, confirming bullish market momentum.
Mild Oversold Signal on RSI:
A slight oversold condition has been detected on the RSI indicator, suggesting a potential slowdown in bearish pressure.
Key Demand Zones Identified:
Price is approaching strong demand areas, increasing the probability of a bullish reversal or continuation.
Trading Outlook:
We expect the pair to bounce from the current demand zones, with potential for a continued move to the upside in alignment with the dominant trend.
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