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Eurnzdsetup

EUR/NZD-Bullish Opportunity with Harmonic Pattern & RSI Div.This report provides a detailed technical analysis of the EUR/NZD currency pair, emphasizing a Bullish Butterfly Harmonic Pattern forming at a key support area. The analysis is supported by a Bullish RSI Divergence observed on the 4-hour chart, reinforcing our bullish bias. Bullish Butterfly Harmonic Pattern: The EUR/NZD is currently forming a Bullish Butterfly Harmonic Pattern, a reversal pattern signaling a potential bullish trend. This pattern is characterized by precise Fibonacci retracement and extension levels, indicating a potential upward price movement from the current support area. Key Support Area: The pattern is emerging at a significant support zone around 1.76671, which has historically provided strong buying interest. This level is crucial for our entry point, providing a favorable risk-to-reward ratio. Indicator Analysis RSI Divergence: The Relative Strength Index (RSI) on the 4-hour chart shows a bullish divergence, where the price makes lower lows while the RSI makes higher lows. This divergence suggests a weakening bearish momentum and potential bullish reversal. Trade Setup Entry Point: Entry: 1.76671 Stop Loss: Stop Loss: 1.76242 Take Profit Targets: TP-1: 1.77100 TP-2: 1.77529 TP-3: 1.77958 Risk Management: Setting a stop loss at 1.76242 ensures minimal risk exposure if the market moves against our position. The take profit targets are strategically placed to capitalize on the anticipated bullish movement, with each target offering progressively higher potential returns. Conclusion: Based on the formation of the Bullish Butterfly Harmonic Pattern and the Bullish RSI Divergence on the 4-hour chart, EUR/NZD exhibits a strong bullish bias. Traders are advised to enter the market at 1.76671, with a stop loss at 1.76242. The take profit targets of 1.77100, 1.77529, and 1.77958 provide clear exit points to maximize profits. By adhering to this trade setup and risk management strategy, traders can effectively navigate the EUR/NZD market, leveraging technical indicators and patterns to inform their trading decisions.
Long
by trading_jupiter
4
EURNZD - Seize Profitable Opportunity with Anti-Shark PatternEURNZD is currently exhibiting the formation of an Anti-Shark Harmonic Pattern (XABCD) coupled with the presence of a significant Trendline, indicating potential bearish momentum on the horizon. This analysis delves into the technical factors influencing the currency pair's movement and proposes strategic entry and exit points for traders to consider. Pattern Identification: Anti-Shark Harmonic (XABCD) with Trendline Confluence The observed Anti-Shark Harmonic Pattern (XABCD) on the 1-hour time frame suggests a potential reversal in the prevailing trend. This pattern comprises distinct points: X, A, B, C, and D, with Point D marking a crucial juncture for market participants. Additionally, the convergence of a Trendline further emphasizes the significance of Point D as a potential turning point. Key Levels: Resistance Identified Point D aligns strategically with a key resistance level, reinforcing the likelihood of bearish pressure manifesting from this point. Traders should remain vigilant as price action nears this critical area, as it often serves as a catalyst for significant market movements. Entry Strategy: Entry: 1.80900 Stop Loss: 1.81370 A prudent entry point at 1.80900 aligns with the anticipated bearish momentum following the completion of the Anti-Shark Harmonic Pattern. To mitigate risk, a stop loss set at 1.81370 provides a buffer against adverse price fluctuations, safeguarding capital in the event of unexpected market developments. Take Profit Targets: TP-1: 1.80400 TP-2: 1.79900 TP-3: 1.79436 Strategically positioned take profit targets offer traders opportunities to capitalize on potential downward movements. These targets, set at 1.80400, 1.79900, and 1.79436 respectively, correspond with key support levels where price action may encounter barriers or exhibit signs of reversal. Conclusion: In conclusion, the technical analysis of EURNZD on the 1-hour time frame indicates a favorable setup for bearish trading opportunities. With the formation of an Anti-Shark Harmonic Pattern and confluence with a Trendline, coupled with the proximity to a key resistance level, traders are advised to consider short positions with careful risk management. By adhering to the outlined entry, stop loss, and take profit levels, traders can navigate the market dynamics with greater confidence and precision.
Short
by trading_jupiter
17
EURNZD I Multiple timeframe analysis and trading planWelcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
EURNZD Long Trade Setup A #long trade opportunity recently presented itself on the #eurokiwi (#EURNZD) #trading chart 📈. This is indicated by the #bullish harami candlestick 🕯️ pattern just above the 1.78600 horizontal support level. This indicates a rejection of the same level, with potential price move in the upward 👆 ⬆️ direction (#buy). Sufficient upward momentum should see price rallying towards the 1.81000 psychological level and possibly testing the strength of the 1.81162 horizontal resistance level. As always, please apply appropriate risk management. Happy trading! #crosspair
Long
by charles-okoukoni
3
EURNZD - Potential Reversal Zone Identified - Bullish BiasThe EURNZD pair is currently forming a Harmonic Pattern, specifically an XABCD pattern. This pattern indicates potential reversals in the market. At the completion of the pattern, we identify Point D, which is considered a Potential Reversal Zone (PRZ). Confluence with Key Support Area: Point D aligns with a Key Support area, further reinforcing our bias toward a potential trend reversal. This confluence strengthens our confidence in the upcoming price action. Anticipated Trend Reversal to Bullish: Given the formation of the Harmonic Pattern and alignment with the Key Support area, we anticipate a bullish trend reversal from Point D. Entry, Stop Loss, and Take Profit Levels: Entry: 1.79370 Stop Loss: 1.78420 Take Profit Targets: TP-1: 1.80375 TP-2: 1.81290 TP-3: 1.82250 Conclusion: With the formation of the Harmonic Pattern and the alignment of Point D with a Key Support area, we anticipate a bullish trend reversal in the EURNZD pair. Our entry point, stop loss, and take profit levels have been carefully calculated to maximize potential gains while managing risk. Traders should monitor price action closely for confirmation of the anticipated reversal.
Long
by trading_jupiter
EURNZD I Potential correction to 1.8000 resistance zone Welcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
EURNZD Technical Analysis and Trade IdeaThe EURNZD has been in a strong a bullish trend across higher time frames. Our approach revolves around trend continuation, prompting us to seek entry points aligned with our predefined criteria based on price action analysis. In the presented video, we meticulously assess the prevailing trend, market structure, and price behavior, deliberating a prospective buying opportunity. It's important to note that the information shared is intended purely for educational purposes and does not constitute financial advice. Trading entails inherent risks, underscoring the criticality of implementing robust risk management protocols consistently.
Long
by fxtraderanthony
Ain`t no sunshine when the eurozone economy is goneFirst things first: Do you think one has to work for one or two circuses before he can start as a member of the ECB? Anyway as surprised as the ECB may be about the total weakness of the euro economy ( no one could have foreseen it! ) as surprised they will probably be today when the GDP of the eurozone will disappoint the consensus forecast as well as the ECB forecasts. -> EUR GDP will be weaker (0.1 or 0.2) than consensus (0.3) expects it. The German industrial production today will also be weaker than consensus forecasts expects it. Some other total surprising data no one could have expected: The EUR PMIs were horrible this week -> after the manufacturing sector the service sector is now also in contracting territory (unbelievable right?) The German Factory orders yesterday were horrible x10 (as I forecasted) and much weaker than the consensus expected them. (surprised pikachu face) Inflation will fall of a cliff from october onwards as the weakness from the economy will spill over to the consumer (retail sales already signalling it) For a broader forecast look at my EURCAD trade, where I went into more detail about the EUR weakness. If someone knows some good news from the eurozone I`m all ears but so far theres no sunshine when she (the economy) is gone.
Short
by PrimeTrading
10
#EURNZD: First Major Drop and then Swing Buy?FX:EURNZD we have published numbers of chart analysis on eurnzd so far, and most of the time, the analysis has gone out in our favour. In our last chart analysis, we were hoping that price will fill the liquidity gap and then reject at the key level that we had identified, however, price mitigated early. We still think price will come to our key level and then bounce from there. We would recommend to wait for trend to become much clear. Trade Safe and Good Luck. If you like our work then please like and comment.
Long
by Setupsfx_
EURNZD I Impulse, correction, and continuationWelcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
1
EURNZD I Impulse correction phase short opportunityWelcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
2
EURNZD Technical Analysis & Trade IdeaThe #EURNZD pair displays a clear bearish bias on the higher timeframe, with a recent decisive break of market structure highlighting a downward shift in price action. This breakdown, marked by lower highs and lower lows, suggests a potential continuation of this bearish momentum. Traders may find an attractive opportunity near the 61.8% Fibonacci retracement level, where a short entry could be considered. If price action revisits this level, it's suggested to place a stop-loss order above the recent swing high. Target previous lows for potential profit-taking. It's crucial to remember that market analysis and trading carry inherent risks. Before entering any trades, always conduct your own comprehensive research, factoring in fundamental drivers and global economic events alongside your technical assessment. Employ prudent risk management strategies to protect your capital. Disclaimer: The information provided here offers a technical perspective on the EURNZD pair. It does not constitute investment advice. Trading decisions should be based on your individual risk tolerance, thorough market analysis, and careful consideration of all relevant factors.
Short
by fxtraderanthony
EURNZD Technical Analysis and Trade IdeaThe EURNZD pair exhibits clear bearish momentum. The current retracement to the 50% Fibonacci level presents a possible sell opportunity. Trend: EURNZD demonstrates a well-defined downtrend. Retracement: The price action is likely experiencing a corrective retracement before renewed selling pressure. Fibonacci Confluence: The 50%-61.8% Fibonacci level is our optimal entry zone. Trade Idea Direction: Short Entry: Upon bearish candlestick confirmation near the 50% Fibonacci level. Target: 1.74840 Stop Loss: Place the stop loss above the recent swing high to manage risk. Important Disclaimer The provided analysis serves as a technical perspective and should not be misconstrued as direct investment advice. Please conduct comprehensive independent research and employ robust risk management strategies before committing to any trades.
Short
by fxtraderanthony