EURNZD: Price Trends Bullish

The EURNZD bulls are gaining strength.
The currency pair remains bullish in both outlooks.

EURNZD Weekly Price Analysis – September 26

Today, the EURNZD pair trends bullish, catching the attention of enthusiasts as the bulls continue to gain strength, driving the currency pair above the supply trend line and facing high demand from buyers. On the other hand, if the price of the coin continues to rise above the current supply mark of $2.02, the bulls’ tendency may cause it to reach a higher level of $2.10, which would result in a wider market rally. Hence, a definite buy signal for long traders.

EURNZD Market
Key Levels:
Resistance levels: $2.00, $2.01, $2.02
Support levels:    $1.88, $1.87, $1.86

EURNZD Long-term Trend: Bullish (Daily)

Over the past 24 hours, EURNZD prices have experienced a notable surge, leading to a broader market rally in their higher time frame. The price is trading in a bullish momentum above the crucial level, indicating a bullish momentum.
The successful breakout by the bulls to the $2.01 supply value in the last action has enabled the currency pair market to retain its bullish strength in its recent high.

The bullish pattern emerged again today, as the EURNZD price rose to a $2.02 high mark above the EMA-50 on the daily chart, suggesting a robust bullish rally with a notable increase.

If the bulls can strengthen their buying motivations, the price is expected to rise, surpassing the current barrier level and providing a good entry point for buyers.

Additionally, the EURNZD price indicates an upward momentum on the daily signal, suggesting that the pair will rise and may reach the upper resistance trend point of $2.10, as it continues its bullish movement.

EURNZD Medium-term Trend: Bullish (4H)

As the bullish pattern reemerges, the EURNZD pair is experiencing a bullish surge, and upward pressure continues to dominate the currency pair from a medium-term perspective.
The price is above the EMA line in the upper resistance zone, indicating a strong bullish trend and a potential rise of the pair.

Its upward stability at its most recent high has been maintained by pressure from the bulls at the $2.01 high value in the prior action.

As the bulls prepare for a significant rise, the price of EURNZD is rising again today on the 4-hourly chart. A bullish candle has formed at a high point of $2.02 above the EMA-50.

The momentum indicator signals an upward trend, implying greater buyer optimism for the currency pair.

Given this, in the medium term, the pair might rise to the upper resistance level of $2.10 in the next days.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.