EUR-NZD
EURNZD Price is sitting on the Fibb .50 will it drop to .618? This is a full breakdown of my perception of Price action on higher time frames! I take my entries using smaller time frame confirmation and you should too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Good Luck!!!!!!!!!!!
EUR/NZD Short Term View by ThinkingAntsOk4H CHART EXPLANATION:
🔸 Price broke the Ascending Trendline.
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🔸 It has bounced at the Upper Trendline of the Daily Ascending Channel.
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🔸 We consider it has potential to reach the lower Trendline.
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🔸 We will look for a lower timeframe bearish setup.
DAILY CHARY ANALYSIS:
EUR/NZD Bearish Scenario by ThinkingAntsOk4H CHART EXPLANATION:
🔸 Price has reached the top of the Ascending Channel , and was rejected there.
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🔸 We consider it has bearish potential.
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🔸 The target of the downside move is the Support Zone .
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🔸 We are waiting for the Ascending Trendline to be broken first.
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🔸 In case the Support Zone is broken, then the target zone would be the Ascending Trendline of the Channel.
DAILY CHART ANALYSIS:
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EURNZD- Short from 50% Fibonacci, Key Resistance and TrendlineEURNZD is keenly approaching my Entry zone that lays at the 50% Fibonacci aligned with my key zone and the well respected Trendline. Upon the retest of these Technicals i'm going to go short. Tomorrow there is an interest rate decision coming from the ECB (European Central Bank) at 12.45 GMT, meaning you may want to be careful entering and maybe await a higher push to the upside before entering as it may wickfish early sellers. As the BOE and Fed cut interest rates this foreshadows the same to potentially occur with the ECB.
EURNZD Bearish ToneI am feeling these pairs have some room lower to retracement watching over the sentiment. Bulls are getting exhausted aren't doing fine with upbeat and watching over the rising trendline and Fibonacci retracement level I assume there may have some pullback in this pair even if it won't be an overall reversal. Ya and hope you guys knew BOE just cut the rate by 50bp so be careful about the pound pairs and I also heard morning Chinese President Xi Jinping flew to the central city of Wuhan for a surprise visit, his first trip to the center of the epidemic since the health crisis erupted. His arrival in the virus-stricken city, which was locked down about a month-and-a-half ago, was a sign that conditions have improved so much that authorities deemed it safe for the country’s top leader to visit.
EURNZD | SHORT | 3R | 1%Symbol : OANDA:EURNZD
Type : Sell
Entry Price : 1.7792
SL Price : 1.7804
TP Price : 1.7755
Reason for entering the market : This pair is following the downtrend so we will ride it till the end of today's trading session ...
Further actions :
I will re-entry two more times if this really dives, moving the SL's to break even in order to minimize possible capital loss and maximize potential profits.
I will close the trade by the end of today, analyze it and re-enter accordingly by next week.
EURNZD | SHORT | 6R | 1%Symbol : OANDA:EURNZD
Type : Sell
Entry Price : 1.7830
SL Price : 1.7860
TP Price : 1.7630
Reason for entering the market : This pair has just reached a resistance level and is about to dive to the bottom of the trend line ...
Further actions : I will re-entry two more times if this really shoots down, moving the SL's to break even in order to minimize possible capital loss and maximize potential profits.
EURNZD [1-3 day view]Short EURNZD
Entry: 1.771350
SL: 1.775520
(Decided not to put TP because I believe trading should always be focused more on where we could possibly go wrong)
This would be an intraday short.
I am of the view that we should see a bearish drop towards my final TP.
Price has been drifting lower since the start of the month. Though on the longer term view, i maintain my bullish bias.
EURNZD Long- 4 Hourly Support and 2 Fibonacci RetracementsIn this trade setup we have some Fib-Ception going on where one is the Daily and the other is the 4 Hourly. Amazingly, they both align beautifully at the 61.8% and 50% on the prior level of Support and Resistance that would be acting as Support. This looks like a great trade!