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Eurnzdforecast

EURNZD MAJOR BREAKOUTEURNZD was travelling in a blue triangle, but as you know from our previous trades, price broke out to the downside, came back to retest the triangle at the 0.618 retracement level before making its way much lower then the previous support zone. Price is now travelling in a descending channel and has touched the bottom after a large impulse move down, we expect price to come up to the 0.618 and then back down to the -1.27 extension level.
Short
by UnknownUnicorn2396129
EURNZD SET TO SURGE HIGHER IN WAVE C OF (B)Hi Traders, The EURNZD seems to have completed wave B of (B) which unfolded as a double zigzag pattern "w-x-y," after a strong sell-off in (A) from Oct-Dec 2018. . Wave c of (y) of B also unfolded as an ending diagonal pattern. Also, prices have made a triple bottom pattern on the chart with MACD indicator also flashing bullish divergence (Not on chart). . According to the Elliott Wave principle, every impulse is followed by a three-wave correction in the opposite direction, but EURNZD has only drawn two waves, labeled A-B, from the bottom of the wave (A) at 1.6330. . This means that in order to fulfill the 5-3 wave cycle from the top at 1.7929, the bulls still have to lift the pair to a new swing high in wave "C" of (B). . Considering the evidence supporting bullish bias on EURNZD, we will look for buy entry at market open. The projected target area for wave C of (B) is around 1.72497 where wave A is equal to wave C. . What's your view on EURNZD? Let's talk in the comment. . Thanks for reading! Veejahbee.
Long
by Veejahbee
THE EURO AND KIWI TRIANGLE BREAKOUT!EURNZD has been travelling in a triangle to the downside. We entered into a long position after we saw some confirmations of trend reversal on lower time frames ,our target for the long position (RETEST) is the 0.618 of the large previous downwards impulse move. This is where we have short positions locked and loaded. we hope you enjoy some profits from this trade opportunity... Our first target is the previous support area where the sl is of the current long trade and ur second target is the -1.27 extension of the whole impulse move, marked above on the chart.
Short
by UnknownUnicorn2396129
The #EURNZD continues its trendOur recommendation for this currency is a sell recommendation! Here are the reasons: 1. The trend is a distinct downward trend. We see this in the graph above that each round of increases is smaller than the previous one. 2. The eurnzd candles are below the cloud, the blue line is above the red line, we have a bearish cloud, all of which are from Ichimoku indicator that indicates a sales signal. 3. We are below the important Moving averages (100,200). At 1.6350 there is technical support and probably the eurnzd is going to go. Sell EURNZD: Entry Price:1.6530 Take Profit: 1.6350 Stop Loss:1.6620
Short
by xosignals
buy #eurnzd at 1.6550 for 3 targetthis is very special the bank of NZ said friday that have a chance to cut the rate this years and the market reacted dovish for NZD and HOPE few minues after it erase all his loss and even gain more so is may due to the optimist of US-China trade talks. But anyway for me the trade talks are 75% priced by the market now so if i am wrong i think is just about my Stop loss and to enter early,as even the dairy milk data come very soft and other macro data not so good. so is a trade to try,i think even we not reach my target 3 we can still go to the 1 not so hard and put a trailing stop after. Cheers
Long
by corsicasia