EURNZD trade ideas
EURNZD to find resistance at previous support?EURNZD - 24h expiry
Short term bias has turned negative.
We are trading at overbought extremes.
Preferred trade is to sell into rallies.
Risk/Reward would be poor to call a sell from current levels.
50 4hour EMA is at 1.8398.
Previous support at 1.8400 now becomes resistance.
We look to Sell at 1.8389 (stop at 1.8445)
Our profit targets will be 1.8249 and 1.8229
Resistance: 1.8384 / 1.8400 / 1.8450
Support: 1.8320 / 1.8280 / 1.8250
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EURNZD is BearishPrice was in a strong uptrend, however the bulls seem to be exhausted for now. Bearish divergence alongside double top indicates bearish grip on price action, moreover the ascending trendline is also broken and a lower low is printed instead. If the bearish momentum continues we can expect further side in price. Targets are mentioned on the chart.
EUR/NZD 4H Timeframe AnalysisEUR/NZD 4H Timeframe Analysis
Trend Analysis:
On the 4-hour timeframe, EUR/NZD is in an uptrend, creating higher highs and higher lows. The pair recently broke a minor key resistance at 1.83800, followed by a pullback that created a minor liquidity zone. As the price resumed its upward momentum, it broke another minor resistance level, signaling increased buyer interest.
However, as buyers pushed the price toward the next minor resistance level, a double top formation emerged, indicating a potential reversal. This reversal has resulted in the price losing bullish momentum and breaking down, liquidating stop-loss orders placed by buyers in the liquidity zones below.
Price Action Expectation:
At present, the price has retraced below the previous minor resistance at 1.83800, which now serves as a key level to watch. A break above this level is necessary to confirm renewed bullish momentum.
Fundamental Correlation:
The upcoming release of Germany’s Prelim CPI m/m, with a previous figure of -0.2% and a forecast of 0.3%, will likely influence the Euro's strength.
Better-than-expected CPI (above 0.3%):
This would indicate rising inflation in Germany, potentially increasing the likelihood of further monetary tightening by the European Central Bank (ECB). A stronger Euro could provide upward momentum for EUR/NZD, aligning with the technical bullish scenario of breaking above 1.83800.
Worse-than-expected CPI (below 0.3%):
A lower-than-forecast CPI could weaken the Euro, as it reduces the likelihood of immediate hawkish actions by the ECB. This could cause EUR/NZD to remain under the 1.83800 resistance or even retest lower liquidity zones.
Trade Setup:
Trade Type: Buy Stop (Breakout Trade)
Entry Price: 1.83990 (confirmation of a break above minor resistance)
Stop Loss: 1.82770 (below the liquidity zone to protect against false breakouts)
Take Profit: 1.86520 (aligned with the next significant resistance level)
Conclusion:
EUR/NZD is positioned for a potential bullish continuation if it breaks above the 1.83800 resistance. However, the direction could also depend on the outcome of the German Prelim CPI release. Traders should be prepared for heightened volatility around the news and adjust positions based on price action following the announcement.
Risk Management:
Ensure disciplined risk management with a 1:2 risk-to-reward ratio. Keep position sizes aligned with account equity and monitor real-time price reactions to the news event to validate or invalidate the setup.
EUR/NZD H8 AnalysisPrice is moving within a bullish, parallel channel and has double topped at channel resistance around the 1.85 big number.
At the end of the last trading week, price broke and closed below the neckline (support) at 1.84
As price retests the level, we wait to see if further selling takes place.
Potential final target for sells is the bottom of the channel.
EURNZDThe price has broken the trend line, and it's now sells. My entry point is on the horizontal line. Any entries now would be a prematurely entry, but if the risk is good, it's no train smash taking an entry. For now, lemme put a pending order - Sell limit and watch my January 2025 going blue as a welcome to new year.
Happy new year everybody!
EUR/NZD "EURO vs Kiwi" Forex Market Heist Plan on Bearish🌟Hi! Hola! Ola! Bonjour! Hallo!🌟
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Entry 📉 : You can enter a Bearish trade at any point.
however I advise placing sell limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest high level should be in retest.
Stop Loss 🛑: Using the 2H period, the recent / nearest high level.
Goal 🎯: 0.82100
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Fundamental Outlook 📰🗞️
Considering these factors, the EUR/NZD pair may experience a Bearish trend in the short-term, driven by:
The Eurozone's slow economic growth and low interest rates.
The New Zealand economy's moderate growth and neutral monetary policy stance.
The yield differential, which favors the New Zealand dollar.
Bearish Factors:
The Eurozone's slow economic growth and low interest rates.
The New Zealand economy's moderate growth and neutral monetary policy stance.
The yield differential, which favors the New Zealand dollar.
The potential for a decline in the Eurozone's trade balance surplus, which could reduce demand for the euro.
The RBNZ's potential to hike interest rates, which could increase the yield differential and support the New Zealand dollar.
Please note that this is a general analysis and not personalized investment advice. It's essential to consider your own risk tolerance and market analysis before making any investment decisions.
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EURNZD / BUY positionThe EUR/NZD buy trade involves expecting the Euro (EUR) to strengthen against the New Zealand Dollar (NZD). This decision might be driven by factors such as strong Eurozone economic data, dovish Reserve Bank of New Zealand (RBNZ) policies, or weakening commodity prices that impact NZD. Keep an eye on resistance levels, European Central Bank (ECB) statements, and global risk sentiment, as they can influence price action. Use proper risk management with a stop-loss to safeguard your position against volatility.
Bearish drop off pullback resitance?EUR/NZD has reacted off the pivot and could drop to the 1st support level.
Pivot: 1.85344
1st Support: 1.83694
1st Resistance: 1.86172
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EUR/NZDHAPPY NEW YEAR.
There are two Bearish opportunities. one on Hourly and one on 5 Minutes.
Hourly opportunity,
On daily, the price couldn't make a higher high and failed. it seems it's time to pullback.
That can be confirmed on 1H chart as well. Entry point can be around 1.84820 with S.L 1.8545 and T.P 1.83400.
THESE NUMBERS ARE SUBJECTED TO CHANGE ACCORDINGLY.
on 5Min. chart, this failiur of making higher high is more visible. thew Entry would be around 1.85030 with S.L 1.85220 and T.P of 1.84820.
Please do your own due diligence and analysis carefully. this is just my personal opinion on this pair.
eurnzd analysis elliot. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
EURNZD, H1 - 12?31?24.Drawing fibonacci from last fvg created to previous high.
Price will retrace to next bid level, - fib 382 retracement, for bearish continuation.
Confirmations -
Level to retest - fib 382 retracement.
Level not to break - fib 382 retracement.
Trade Invalidity -
Change in market direction will be confirmed when price breaks 'price-point', 1.85252, and retests. Price must maintain level to continue bull-trend.
- FX_Dispenser,
You're Welcome.
Could the price drop from here?EUR/NZD is reacting off the pivot and could drop to the 1st support which aligns with the 38.2% Fibonacci retracement.
Pivot: 1.84535
1st Support: 1.82654
1st Resistance: 1.85426
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off pullback support?EUR/NZD is falling towards the support level which is a pullback support that aligns with the 23.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.83656
Why we like it:
There is a pullback support level that aligns with the 23.6% Fibonacci retraecment.
Stop loss: 1.82385
Why we like it:
There is a pullback support level that lines up with the 38.2% Fibonacci retracement.
Take profit: 1.85286
Why we like it:
There is a pullback resistance level.
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