Get started

Eurnzdidea

EurNzd- to see range trading?Undoubtedly Nzd alongside Aud was one of the strongest currencies at the end of 2020... With its Euro counterpart though, after finding a bottom and reversing at the beginning of December, Nzd found strength again but didn't manage to clearly make a new low under 1.6950, instead it confirmed this support and put in a tweezer bottom candle formation on the last trading day of 2020. I consider 1.6900-1.6950 strong support and EurNzd can start trading in a range with resistance around 1.73 zone. I'm bullish on this pair and only a clear drop under 1.69 would change my opinion
Long
by Mihai_Iacob
2
EurNzd has all ingredients for a strong reversalFrom 20 Oct 1.8 high, EurNzd dropped almost linearly 1000 pips. The pair found strong support at 1.7 zone and after a few days of consolidation broke the descending trend line and the first leg of correction come that let the price to 1.7300 zone. Now the pair is correcting this first leg up and a new one could start soon. 1.7 should be very well defended by bulls and my target for EurNzd is 1.75 in the medium term. In the short term, 1.7050 is now support and a break above 1.7150 could accelerate gains to 1.7280 resistance. In my opinion, dips should be bought and only a daily close under 1.70 would negate this scenario
Long
by Mihai_Iacob
6
EURNZD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
EURNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
EurNzd at confluence resistanceThe move from the past 4 weeks on EurNzd was fabulous with the pair sinking 1000 pips from 1.8 to 1.7 Yesterday the pair had a short dive under 1.7 but managed to recover above this important support. At this point, we are just at confluence resistance and a break here could signal a much-needed correction. In my opinion, dips around 1.7 should be bought and a long position in this zone could have a 1:3 R:R if we target the last congestion zone at 1.73
Long
by Mihai_Iacob
8
EURNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
2
EURNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 48 - Nov 23 M > Market is moving in a rising wedge with few major breakouts. Price faced rejection at monthly resistance and has dropped till monthly support. W > Price has filled in last weekly candle with current drop and created double bottom. We can see two M formations and their neck can be our bullish target. D > Price dropped till weekly support and moved upwards after rejection, last week price dropped to test support again and ended the week with rejection. We can see bullish divergence. As per COT EUR saw addition of both Long and Short, reducing net positions further. EXY weakened during the said period however it slightly recovered last week. NZD further added both Long and Short improving net positions to max for the year, ZXY has been gaining strength for past 3 weeks, it is now testing a major resistance level. Institutions, since August, have been reducing their EUR portfolio of Long and increasing Short positions, with about 60K Long positions closed and 19K short positions opened so far. In long term we can expect weakness of EUR to continue. For NZD we can expect some correction to the downside this week. 4H > Price has faced rejection at support and has created double bottom. We can also see bullish divergence. However we will wait for reversal confirmation with creation of a HH and next HL will provide a nice entry for Long. Recommendation > Keep a close watch with other NZD pairs as it will be NZD that will drive EURNZD now. Pair Correlation > EURNZD has negative correlation with NZDCHF, NZDUSD, NZDCAD and NZDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
EURNZD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
EURNZD Roadmapcurrently, we are seeing price testing the 1.8010 resistance level, we have room to go down for +230 pips if the seller manages to push the price to the 1.7775 support level, I will wait for price rejection occur on a lower timeframe before placing any sell order **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
2
EURNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Market is moving in a rising channel. Price tested monthly support, faced rejection and started upward move. W > Price created double bottom at support level. D > We saw an M formation and as expected price moved up to test its neck and complete the formation. While rising up price faced rejection at supply zone but still managed to create HH. After testing our target price reversed, dropped and is moving towards our next target. However for final confirmation of break of bullish trend price must break last LH to create a LL. As per COT EUR saw closure of Long and addition of Short, reducing net positions; improving its position for the said week. EXY further improved its position last week. NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. Overall EUR has huge quantum of net position, since past 2 quarters, with much more open Long positions than Short. This reflects Institution holding their Long positions for bigger gain in time to come, EUR will continue to be strong till the time we see major chunk of Short added for Institutions. 4H > Price is dropping with bearish move, we will monitor price action around test zone. We can expect continuation of bearish move if price breaks this zone and bullish move if price fails to break. Pair Correlation > EURNZD has positive correlation with EURAUD and GBPNZD and negative correlation with NZDCHF and NZDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
1