EURNZD Unable to Hold Lower Range Boundary
I was long earlier this week in anticipation that the 1.6981 level (lower range boundary) would hold.
The move up was cut short and I'm now changing my directional bias.
Currently looking for price to make another attempt to trade higher, but failing to hold at the higher price level.
[ Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions. ]
EUR-NZD
EURNZDTF: 1 hr
EURNZD has been in a steep downtrend since spring of 2020; however, I do think at some point in the near future, price may correct upwards for a few months. Depending on how price plays out here we may see a move to the upside before we move back down (I think EN will continue to sell in the future over the longer term). Price may break the bottoms low here to trap sellers before moving up.
Here is my previous shorter TF idea:
EURNZD testing a support 🦐After our last idea on this pair, EURNZD broke the ascending channel and retest the structure.
The price after testing the 0.382 is moving to the support at the 1.69800 area.
IF the price will break below, we will be ready to set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
EURNZD Buy the bottom.EURNZD - Intraday - We look to Buy at 1.6988 (stop at 1.6955)
Dips continue to attract buyers.
We look to buy dips.
Dip buying offers good risk/reward.
Pivot support is at 1.6947.
Levels below 1.7000 continue to attract buyers.
Short term MACD is moving higher.
Our profit targets will be 1.7088 and 1.7154
Resistance: 1.7050 / 1.7100 / 1.7160
Support: 1.7000 / 1.6950 / 1.6900
EURNZD - 04-08 Jan 21 Week trade PlanThis is my 04-08 Jan 21 Week trade Plan for EURNZD.
With EURNZD ended Dec 2020 with bearish close confirming the bearish momentum, I'm expecting a bounce from the HTF support created 24 Nov 2020 at 6980 which is expected to be rejected at/below 7080/7100 for bearish momentum continuation and retest/break and close below 6980 for targets at 6880 and 6780.
A reversal can also be in place in case of the support/double button formation at 6980, a break of the 7220 and solid support formation above 7180 will confirm this scenario which can trigger longs to retest 7345.
Weekly Close : Bearish
Daily Close : Bearish
4H : Bearish
Overall view is Bearish till a daily close and forming solid support above 7220.
Levels to watch:
- 1.7600
- 1.7450
- 1.7345
- 1.7220
- 1.7080
- 1.6980
EURNZD - Buy the dip.EURNZD - Intraday - We look to Buy at 1.6988 (stop at 1.6955)
Dips continue to attract buyers.
We look to buy dips.
Dip buying offers good risk/reward.
Pivot support is at 1.6947.
Levels below 1.7000 continue to attract buyers.
Short term MACD is moving higher.
Our profit targets will be 1.7088 and 1.7154
Resistance: 1.7050 / 1.7100 / 1.7160
Support: 1.7000 / 1.6950 / 1.6900
EURNZD Buy a dip setup.EURNZD - Intraday - We look to Buy at 1.7081 (stop at 1.7048)
Dips continue to attract buyers.
We look to buy dips.
Dip buying offers good risk/reward.
Pivot support is at 1.7060.
Our profit targets will be 1.7209 and 1.7254
Resistance: 1.1735 / 1.7180 / 1.7220
Support: 1.7080 / 1.7060 / 1.7000
EURNZD - Dec 28 -01 Jan Week trade planThis is my trade plan for EURNZD for next week FX:EURNZD Dec 28 -01 Jan based on HTF analysis.
Trades will be executed according to my trading rules:
1- Momentum
2- HTF close with momentum direction
3- 1H close below/above previous candle in momentum direction
4- Targets for 4H recent support/resistance
Please refer to the Daily and weekly outlook for further HTF outlook.
Daily Outlook:
Weekly Outlook:
EURNZD - 21-25 Dec Week trade opportunities for reference- Dec week 21 -25
- Previous momentum: Bearish
- Week Close: Bullish
- Range: 242 pip
- Bullish momentum, break of last week high and retesting Nov 9 resistance level was the first spot at week start. With EURNZD HTF bearish momentum and current unjustified bullish move, failure to break and hold above 9 Nov resistance at 7345, suggests that correction for this up move is due.
- Highlighted 2 opportunities for Short according to my rule of having Momentum and 1H close in my direction and as per my Weekly Plan. the other Long opportunity could be traded but wasn't planed.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
Previous week trade plan : FX:EURNZD
EURNZD Buy a break setup.EURNZD - Intraday - We look to Buy a break of 1.7358 (stop at 1.7312)
Daily signals are mildly bearish.
A break of yesterdays high would confirm bullish momentum.
We look for gains to be extended today.
Short term MACD is moving higher.
Short term RSI is moving higher.
We expect a period of high volatility.
Our profit targets will be 1.7494 and 1.7554
Resistance: 1.7360 / 1.7400 / 1.7500
Support: 1.7250 / 1.7200 / 1.71500
EURNZD Looking to Break Out of Another Key Level
Major structure change is underway on this pair as price is bottoming out.
Current level is very minor, but significant as price is looking to push higher.
The previous breakout failure indicates that selling pressure remains rather weak.
[ Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions. ]
💡 Don't miss the great buy opportunity in EURNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.7224). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
Take Profits:
TP1= @ 1.7365
TP2= @ 1.7520
TP3= @ 1.7610
TP4= @ 1.7770
TP5= @ 1.8020
SL= Break below S2
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💡 Don't miss the great buy opportunity in EURNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.7224). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURNZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
Take Profits:
TP1= @ 1.7365
TP2= @ 1.7520
TP3= @ 1.7610
TP4= @ 1.7770
TP5= @ 1.8020
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
EURNZD - 14-18 Dec Week trade opportunities for referenceFX:EURNZD
This is a summary of the trade opportunities during this week according to my Trade Rules:
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan
Dec week 14 -18
- Previous momentum: Bearish
- Week Close: Bullish
- Range: 180 pip
- Ranging dominated the week after the bearish momentum in last week in-between 1.7080 to 1.7220 zone.
- Highlighted 2 opportunities for Short according to my rule of having Momentum and 1H close in my direction and as per my Weekly Plan. the other 3 are Long opportunities which could be traded but wasn't planed.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
Week Trade Plan :
Actual Week:
EURNZD double bottom over the 0.618 🦐EURNZD after the last impulse retraced inside a descending channel.
The price hit the 0.618 fibonacci retracement and created a double bottom formation over it.
IF the market will break and close above the resistance structure, and consequently breaks the channel, we will set a nice long order according to Plancton's strategy.
––––
Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.