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Eurnzdanalysis

EURNZD LongList of confluences: 1:Stop loss hunt at previous low on weekly chart 2: Double Bottom formation on daily chart around previous low on weekly chart 3: Daily chart and H4 trendline breakout Summary: Price is currently over extended and has been moving in a down trend for 3 weeks straight. We are looking for a potential pullback to just above the 50% (1.69187 - 1.68428) of the previous down trend. There's is a potential for strong mean revision to take place allowing big players to hunt some stops and grab some liquidity before we see a continuation to the downside. You could add a 6Ema and 30 SMA on the H4 time frame for more confluence. This trade is expected run for the next 8-9 trading days or until the target is reached, whichever comes first. Always remember to Buy to the low and Sell the high in the direction of the trend
Long
by NDOBObanks
1
EURNZD to head bullish?Let me start off by saying this currency pair isn't my strong suite but if the confluences are there, hey. Go for it. Okay. I don't know if anyone else has noticed this but EURNZD has been trending since March 22nd this year. I used multiple timeframe analysis and well from the daily chart its just trending (said that already). I also drew out some demand and supply zones. Price went down into my demand zone, formed a double bottom and it is likely to bounce off that zone and start heading bullish. If price doesn't start heading bullish now, it is likely to start from the 1.66600 psychological level. Initially I was thinking price would bounce off the 1.67000 psychological level but price broke that level before forming a bullish engulfing candlestick on the 15m timeframe. What do you think?
by charlesgyening
TRADING SETUP FOR EURNZD EURNZD is currently approaching the daily support level. However, in the intraday timeframe, there is a very nice falling wedge which is a reversal structure. Look for the opportunity to buy once the structure is broken and retested. Also, the formation of the double bottom on the support will add an extra trigger to BUY the market. NB; once the price continues to fall below the yellow structure, the setup will be INVALID. What's your opinion on EURNZD? Comment below...
by Erady_Pascal
2
EUR/NZD:FUNDAMENTAL ANALYSIS+PRICE ACTION & NEXT TARGET|SHORT🔔The New Zealand Trade Balance for July was reported at -NZ$402M monthly and at -NZ$1,100M 12-month year-to-date. Forex traders can compare this to the New Zealand Trade Balance for June, reported at NZ$245M monthly and -NZ$280M 12-month year-to-date. Exports for July were reported at NZ$5.75B and Imports at NZ$6.18B. Forex traders can compare this to Exports for June, reported at NZ$5.96B, and Imports, reported at NZ$5.71B. The German IFO Business Climate Index for August is predicted at 100.4. Forex traders can compare this to the German IFO Business Climate Index for July, reported at 100.8. The German IFO Current Assessment Index for August is predicted at 100.8. Forex traders can compare this to the German IFO Current Assessment Index for July, reported at 100.4. The German IFO Expectations Index for August is predicted at 100.0. Forex traders can compare this to the German IFO Expectations Index for July, reported at 101.2. The forecast for the EUR/NZD remains bearish after this currency pair corrected into its descending Ichimoku Kinko Hyo Cloud. Price action may temporarily pause, and volatility can increase, but the longer-term downtrend remains intact. Will bears pressure the EUR/NZD into an extended sell-off into its horizontal support area? Previous Idea in Take profit:
Short
by FOREXN1
2