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EUR / NZD forecast for January 26, 2021

Looking at the weekly timeframe chart, we can see that the EUR / NZD pair continues the bearish scenario this week as well. The final break fell below the MA200 (purple line) moving average and put strong pressure on the euro to fall further. When you set the Fibonacci retracement level, you can see that the chart moves exactly along the level, merges around the level, and then descends towards the lower levels. At the bottom, a psychological level of 1.65,000 awaits us. A little above that was at 61.8% of the Fibonacci level, with the potential for new integrations and even a reversal of trends.

With daily frame names, we see less than 1.7,000 integrations. I took a break first, then retested and sequeled, down to the current 1.68550. To keep going down, we need another break below 1.68000. In that case, the EUR / NZD pair is expected to fall to 1.66000. The bullish scenario requires a break above 1.70000 first, then pushes up the EUR / NZD pair to test 1.72000 and later integrates that could pave the way for 1.75000, but at the moment It’s too early for something like that because there are no letters on the chart. The continuation of the bearish trend is very likely, as confirmed by the moving averages following this bearish trend.eur / nzd, EUR / NZD forecast for January 26, 2021

In the 4-hour time frame, there is a strong bearish trend in the EUR / NZD pair, and when combined with the previous highs, a resistance line emerges from above. As a resistance, you can also track the moving averages that are currently following the top bearish trends. This time frame follows the previous deduction, a zone of about 1.68000 locations for previous support. It’s very likely because things are on the broken chart below. Bullish scenarios and daily charts require more than 1.7,000 breaks.eur / nzd, EUR / NZD forecast for January 26, 2021

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EUR / NZD forecast for January 26, 2021

https://www.financebrokerage.com/eur-nzd-forecast-for-january-26-2021/ EUR / NZD forecast for January 26, 2021

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