EURNZD Long From SupportHello Traders
In This Chart EURNZD 4 HOURLY Forex Forecast By FOREX PLANET
today EURNZD analysis 👆
🟢This Chart includes EURNZD market update)
🟢What is The Next Opportunity on EURNZD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
EURNZD trade ideas
EURNZD Will Go Down From Resistance! Short!
Please, check our technical outlook for EURNZD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1.824.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.804 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EUR/NZD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
Bearish trend on EUR/NZD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 1.831.
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EURNZD - Sell Setup at Clear Resistance ZoneEURNZD is currently trading in a clear resistance zone that has consistently acted as a barrier for bullish momentum. This area aligns with prior supply levels and could attract some seller interest.
If rejection patterns, such as bearish engulfing candles or long upper wicks, emerge, I anticipate a move toward 1.82800. However, a break above this zone could signal a potential shift in market sentiment.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation before jumping in.
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EUR_NZD POTENTIAL LONG|
✅EUR_NZD is about to retest a key structure level of 1.8250
Which implies a high likelihood of a move up
As some market participants will be taking profit from short positions
While others will find this price level to be good for buying
So as usual we will have a chance to ride the wave of a bullish correction
LONG🚀
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EURNZD Analysis , Support Bounce and Bullish PotentialEURNZD is currently trading at 1.83300, with a target price of 1.89000. This suggests a potential upward movement of 500+ pips. The price is bouncing off a strong support level, indicating a possible bullish reversal. The support and resistance pattern highlights key price zones where buying and selling pressure increase. A successful bounce from support strengthens the bullish outlook. Traders anticipate the price moving towards the next resistance level at 1.89000. Confirmation through candlestick patterns and volume analysis is essential. Risk management should include a stop-loss below the support level. Fundamental factors like interest rate decisions can impact price action. Monitoring market sentiment and economic news is crucial for trade execution.
EURNZD Testing Key Demand Zone - Bullish Bounce ExpectedOANDA:EURNZD is approaching a significant demand zone, marked by prior price rejections and strong buying pressure. This area has historically acted as a key support zone, indicating the potential for a bullish bounce if buyers regain control.
The current market structure suggests that if the price confirms a rejection from this demand zone, there is a high likelihood of an upward move. I anticipate that if rejection occurs, the market may head higher toward the 1.83800 level, which represents a logical target within the current market structure.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
EUR/NZD Triangle Breakout (5.2.2025)The EUR/NZD Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.
Target Levels:
1st Support – 1.8220
2nd Support – 1.8140
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NZDUSDAs of February 4, 2025, the labor market data for New Zealand is anticipated to reveal significant trends that could influence economic policy and market sentiment. Here’s what to expect based on the latest figures and forecasts:
Key Data Points
Employment Change (q/q):
Forecast: -0.2%
Previous: -0.5%
The slight improvement in the forecast suggests a potential stabilization in employment levels, though still negative, indicating that the labor market is under pressure but may be starting to recover.
Unemployment Rate:
Forecast: 5.1%
Previous: 4.8%
This forecast indicates a rise in unemployment, reflecting ongoing economic challenges. Predictions suggest that the unemployment rate could peak at around 5.5% during 2025 as the economy continues to adjust post-recession13.
Labor Cost Index (q/q):
Forecast: 0.6%
Previous: 0.6%
The stability in labor costs suggests that while employment conditions are tough, wage pressures are not currently escalating.
Economic Context
Rising Unemployment: The increase to 5.1% signifies that job seekers face a challenging environment, with many economists predicting a further rise in unemployment due to ongoing economic adjustments following a recession134.
Job Market Dynamics: Reports indicate that while there is a rebound in job advertisements, overall hiring remains subdued, with many candidates competing for fewer positions4. The labor market is still catching up to previous economic conditions, and recovery is expected to be slow as lower interest rates begin to stimulate household spending and business activity34.
Future Outlook: Economists expect the labor market to remain tight in the first half of 2025, with a gradual recovery anticipated as economic indicators improve over time23. However, this recovery may not be uniform across all sectors.
Conclusion
The upcoming labor market data is crucial for understanding the current state of New Zealand's economy. While there are signs of stabilization in employment change, the rising unemployment rate reflects ongoing challenges. Stakeholders will closely monitor these figures as they may influence monetary policy decisions by the Reserve Bank of New Zealand.
EUR/NZD:Complex Correction Unfolding – Wave 2 Nearing CompletionEUR/NZD has been trapped in a sideways range since July 2024, forming what appears to be a complex correction for wave 2. If this Elliott Wave count is accurate, the current resistance zone could hold, allowing bears to step in and drive prices lower to complete the second wave.
Watch for reversal signals like engulfing candles or strong rejections before entering short positions! 📉🔥
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