Euronzd
EUR/NZDFor today I'm looking at EUE/NZD .. price is moving in a trading range. I'm looking at the price and waiting for a signal to enter sell positions .. breaking RSI dynamic line, or make a candle pattern .. that's what I'm looking for, and following a price to support zone.
Remember, money management and risk management. That's the only way to win in this game.
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⚠️EURNZD Ready to Fall⚠️EURNZD is moving near the resistance lines, and two candles formed a Bearish Engulfing Candlestick Pattern 4 hours ago, which can be a 💡 Sign 💡 of the beginning of a decline.
🔔I expect EURNZD to fall to at least the support line .
🔅Euro/New Zealand Dollar (EURNZD), 4-hour time frame⏰
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Joe Gun2Head Trade - More upside in EURNZD?Trade Idea: Buying EURNZD
Reasoning: Possible continuation pattern
Entry Level: 1.70750
Take Profit Level: 1.7290
Stop Loss: 1.7010
Risk/Reward: 3.1:1
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💵Euro/New Zealand Dollar💵 Analyze🦀/Rising wedge!!!Euro/New Zealand Dollar was able to make a Bearish Deep 🦀Crab🦀 Harmonic Pattern & Rising wedge near the Resistance zone.
I expect the Euro/New Zealand Dollar will start to go down at my TRZ(Time Reversal Zone) to the 🎯targets🎯 that I showed in my chart.
🔅Euro/New Zealand Dollar (EURNZD) Timeframe 4H⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
EUR-NZDNew Zealand Dollar has been one of the strongest pairs of the Forex market recently.
As you can see on the chart euro has been under performing NZD since late March.
Back in March it made a descending triangle top and broke it to the down side.
Since then it has been trading in a trading range between 1.825 ish which was the previous support of the topping formation and the support of the new range at 1.76 ish which bounced the price few times.
However it looks like it has made a continuation head and shoulders inside the range ( yes they can be continuation patterns as well :) ) and completed the formation by a break below its support few days ago. Target of the H&SH is around 1.7 .
A pull back to the previous support zone should be a good entry for a short trade. Because the zone should act as resistant now.
The first support zone below the price is around 1.715.
This trade idea has 2.5 risk to reward ratio.
Market News and Charts for August 12, 2019 EUR/NZDThe pair was not able to sustain its strength after it failed to break out from key resistance line, which will send the pair lower towards a major support line. The Royal Bank of New Zealand (RBNZ) cut its benchmark interest rate in response to the escalating trade war between the United States and China. This will cause an advantage for New Zealand exports against countries affected by the trade war. Amid the threat that U.S. President Donald Trump will impose tariff to the European Union, the European Central Bank (ECB) had hold on to its benchmark interest rate. The ECB will resume their interest rate meeting by September, which will also be the last time that the incumbent ECB President Mario Draghi will be attending the said meeting as he is about to pass the ECB presidency to the former IMF (International Monetary Fund) Director Christine Lagarde in October.
Don't miss the great buy opportunity in EURNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.6815). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EUR/NZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 79.
Take Profits:
TP1= @ 1.6913
TP2= @ 1.7050
TP3= @ 1.7305
SL= @ 1.6725
A trading opportunity to Sell in EURNZDMidterm forecast:
While the price is below the resistance 1.7390, beginning of downtrend is expected.
We make sure when the support at 1.6325 breaks.
If the resistance at 1.7390 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.6410 on 02/15/2019, so more losses minimum to Major Support (1.6325) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.
Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (1.7115 to 1.7230). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
Beginning of entry zone (1.7115)
Ending of entry zone (1.7230)
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1 : @1.6965
TP2 : @1.6815
TP3 : @1.6565
TP4 : @1.6325
TP5 : @1.5830
TP6 : @1.5255
TP7 : @1.4535
TP8 : @1.3875
TP9 : Free
A trading opportunity to Sell in EURNZDMidterm forecast:
While the price is below the resistance 1.7390, beginning of downtrend is expected.
We make sure when the support at 1.6325 breaks.
If the resistance at 1.7390 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.6410 on 02/15/2019, so more losses minimum to Major Support (1.6325) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 44.
Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (1.7115 to 1.7230). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
Beginning of entry zone (1.7115)
Ending of entry zone (1.7230)
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1 : @1.6965
TP2 : @1.6815
TP3 : @1.6565
TP4 : @1.6325
TP5 : @1.5830
TP6 : @1.5255
TP7 : @1.4535
TP8 : @1.3875
TP9 : Free