Eurnzdforecast
EURNZD Market Outlook | Alchemy FX Weekly Breakdown.EURNZD
Like EA looking very bearish on the higher timeframes. Shooting star on the weekly. On the lower-time frames there’s a bit more indecision in the market. I do favor more downside movement but we could pop up and retest highs before melting to the downside. Always keep in mind before huge moves there is usually a bunch of fake outs to stop out as many traders as possible before moving in the final true direction. Patience will be key we need to see how EN reacts, as stated I do feel if we get some strong downside pressure we could see EN completely melt.
To see our full market break down join our Forex Telegram Channel link in my bio!
Next Retracement is coming... EURNZD short trade opportunityIn the image above you can clearly see a prime example of a double top which indicates a Reversal is coming. This pair is still in a Up Trend so I expect a short retracement down just like you see on the chart happend end June and July. The execution of this trade will take a view weeks I guess so a lot of patience is needed.
More Euro Rise? - Ichimoku Eur/Nzd Long TradeWe've been on a nice bullish run with this pair and I am looking for that run to continue.
I would like to see a drop to previous price structure support that I've dawn out to try and get a long entry.
My overall target is at price structure highs but we do have our normal partial take profit levels I draw out to aim for along the way.
If we fail to drop and hold at support, this setup may become invalidated.