Forex Forecasts: Another opportunity to buy back EURNZDAfter a long downward , the 4-hour uptrend was able to stop this downward movement and the pair formed a similar triangle that was able to break it, as the pair formed a strong demand area, which is a good opportunity to buy back the pair from the 1.7092 area with the targets shown on the chart.
Eurnzdlong
EURNZD, 4hr tf, buy descending channel breakoutHello my friends,
My first trade for December is coming to you all.
I am going to take a buy positions on EURNZD pairs.
As you can see price, recently broken above the descending channel after moving inside it for 2.5 weeks inside it.
We could expect price to rotate higher as there is also weekly trendline at this 1.7000 area.
This 1.7000 could be an area of confluences support because so many support level right now at this point.
Notice also the recent candle looks like a marubozu candle which indicates buyers strength.
With this candle appearing on support, i could say buyers are trying to show it is now in control.
Buy EURNZD 1.7010
Stop loss 1.6960
Take profit 1.7180 (3.4R)
RR ratio 1 : 3.4
Use only 1-2% risk
Good luck
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
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
EURNZD BUY Trade Idea. Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
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
EURNZD - Buy setup almost readyEURNZD is aprroaching the bottom of a HTF flat channel structure in impulsive approach. It even breaking the bottom of the channel a bit. After that it rebound impulsively back into the channel. Usually It’s signaling for a fake move and the break is only to catch people on the wrongside of the market.. I’m anticipating for a move back top of the channel. So far, it has give a really good momentum to the upside. I will now anticipating the price to form a corrective structure.
Any break from any bullish continuation pattern now will trigger my buy entry with sl below the corrective structure with target back to the top of the structure up to 1.82700
Lets see how will this pair play out.
Good Luck