Get started

Eurnzdsetup

EURNZD | Perspective for the new weekI am not certain that the Euro is ready for Bullish bounce in the nearest future as a continuous rejection of Supply zone and Key level since the beginning of the month remains an emphatic sign of a Bearish bias. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand |Trendline Observation: i. Bearish Trendline: The visual representation of line drawn over pivot highs represented on the chart (Pivot I to VI) explains the prevailing direction and speed of price in the last 3 months. ii. The Breakdown of NZ$1.67000/1.66500 area February 2021 followed by rejection of this zone emphasizes the strength of Sellers at this juncture in the market. iii. A further breakdown/rejection of NZ$1.65400 in the coming week(s) should encourage adding to the existing position as the Key level remains a yardstick for Bearish tendencies. Trading plan: SELL confirmation with a minimum potential profit of 350pips. Risk/Reward : 1:4 Potential Duration: 5 to 10 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EurNzd- In a good place for a swing buy tradeI think there is no trader who hasn't wondered where the eurnzd decline will stop... And I think we are at that point On a weekly chart, we can clearly see a long-tailed Pin Bar in long term horizontal support, followed by a consolidation week and another small Pin Bar, which gives me reasons to think that a bottom is in place and a correction will follow If we zoom in on H4, we can see the false break of important 1.65 and strong rebound followed by consolidation At this point, EurNzd is trading at 1.6656 and I expect a break above 1.67 resistance, after this the road is clear to 1.7 important figure
Long
by Mihai_Iacob
22
EurNzd- are "we" breaking up?Although the trend is grossly down for EurNzd, from the beginning of the year, the drop in the pair was marginal, forming a falling wedge. A bottom seems to be in place at this point at 1.6650 zone and is marked by a double bottom on shorter time frames. Now the pair is trading at 1.68 which is also the resistance of the wedge. A break here would expose 1.7 zone and 1.73 furthermore (the target for the pattern) Buying dips can be a good strategy for this pair
Long
by Mihai_Iacob
9
EUR/NZD Full Analysis !! Must see !!Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair. Monthly : We have just Completed an "M" formation and we already started the new impulse to the downside. We expect the price to continue dropping. Weekly : We have an impulse correction impulse pattern and we are at the 5th wave of Eliott and we expect the price to push lower. Daily : We have a "W" formation and we are currently at a strong level of resistance that was rejected by the market if you look at the wick of the last candle, the price seems to be going toward the Neckline. COT : Institution have been shorting EUR massively since they added closed more than 21000 long positions and added close to 7200 long position during the last report. From an NZD perspective we are still looking at a strong NZD even though hedge funds added more shorts positions than longs and this explains perfectly the retracement of this currency with all the pairs. 4H: We do have strong level of resistance at the moment and we will be waiting for the market to shift from a bullish to a bearish environment on the 4H timeframe in order to place our entry. MACD : we are still in a bullish environment EMAs: Cut for long for the moment but anything could change within the last hour EMA 200 : We are still below this EMA and could be considered as a resistance itself in case we decide to go higher to grab more liquidity. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Short
by TheDayzen
EurNzd- break of falling wedge for 500 pips profit.Since the beginning of the year, EurNzd is trading in a falling wedge, with the price making marginal lows. On shorter term time frames, the pair made a small double bottom which can give us the idea of a turn. Now EurNzd is facing confluence resistance of horizontal 1.68 level and the resistance of the wedge and a break here would confirm the reversal and gives scope to 1.73 resistance. Also, a buy trade for this pair would have a great R:R
Long
by Mihai_Iacob
15