EURNZD price confirmed the dominance of the bullish path by its stability above the support level at 1.9440. The pair formed a strong bullish surge, breaking above the 55-period moving average at 1.9760, confirming its commitment to the bullish path in the upcoming trading sessions.
Moreover, stochastic move into overbought territory reinforces the chances of the gathering positive momentum, to rally towards 1.9833, confirming its readiness to record additional gains in the near term toward 1.9905 and 1.9975.
The expected trading range for today is between 1.9740 and 1.9905
Trend forecast: Bullish
The pair’s price has no choice but to activate its bearish corrective move, given its repeated stability below the 186.05 barrier. The price has currently started forming some bearish waves, reaching around 185.30.
MoreDespite the weakness in the pair’s recent trading, posting further negative closes below the 217.85 barrier supports the continuation of the previously suggested bearish corrective bias. The price has once again slipped below the 216.35 level, signaling its readiness to resume the previously proposed corrective decline.
MorePlatinum price came under additional negative pressure during yesterday’s trading, slipping below the 55-period moving average and resuming its bearish corrective move, with the price currently approaching $1711.00.
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