EURNZD: Final Touchdown Before a Next Big Move! EURNZD
The price is currently in a corrective phase, having reversed from its previous reversal point. This indicates a potential continuation of the upward trend. However, we believe there is a possibility of a sharp decline and reversal from our identified zone at 1.72321. We anticipate the price to reach the 1.8200 level before encountering resistance and reversing. This reversal aligns with our expectation of filling the imbalance zone. Our initial target is set at 1.77969, followed by a second target at 1.83369, and a final target at 1.88539, representing a potential total movement of over 1600 pips. The current price action supports our analysis. We encourage you to conduct your own analysis and consider this as an additional perspective.
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NZDEUR trade ideas
EUR/NZD SHORT FROM RESISTANCEHello 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 I Potential short from top of the channelWelcome 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.
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Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
EURNZD View!!Markets expect the Federal Reserve to cut rates by just 25 bps in November, rather than 50 bps, following the jobs data. According to CME's FedWatch tool, markets are pricing in a 85% chance of a quarter point cut, up from 47% a week ago, and a slim 0.15% prospect of no cut at all.
A rise in the yield on the benchmark U.S. 10-year note
US10Y
above 4% for the first time in two months was also a psychological support.
Against the Japanese yen, the dollar weakened after Atsushi Mimura, Japan's top currency diplomat, issued a warning against speculative moves on the foreign exchange market.
EURNZD - Short TradeToday price swept previous day high (PDH) with a great sign of weakness - market structure break (MSB).
As a target, I prefer the opposite liquidity pool
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Keep it simple and consistent! =)
Don't miss the great SEE Opportunity in EURNZDCurrent Price Action: The market is moving in an uptrend, and the price is currently around 1.7910, just below a possible resistance level.
Possible Trade Setup:
Support Zone: A potential pullback is anticipated into the grey-shaded zone between 1.7824 and 1.7900.
Long Entry: After the pullback, a bullish move is expected. The target is around 1.8060, marked in the green box.
Bullish Continuation: The chart suggests entering a long position upon a retracement to the support level, expecting further upward movement.
EURNZD - Buy LimitEURNZD
On a 4H timeframe, it has broken it's trend line and has started to move up. It may retrace a little bit, therefore putting the buy limit order which is at 50% Fib retracement . We'll take partial profit at the next resistance zone and then TP2 can be put at the 1.83983 level or until 4H divergence is formed.
EURNZD: Back to Bullish Trend?!EURNZD is starting to bounce back after a long period of decline.
There is a clear indication of a bullish breakout at an important daily resistance level, showing the buyers' strength.
I anticipate that the market will continue to improve and potentially reach the 1.7941 level in the near future.
Bearish drop?EUR/NZD is reacting off the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.78263
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 1.79446
Why we like it:
There is an overlap resistance level.
Take profit: 1.76171
Why we like it:
There is an overlap support level that aligns with the 61.8% Fibonacci retracement.
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EURNZD ForecastEURNZD New forecast👨💻👨💻
Note:
Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP.
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Lingrid | EURNZD pullback Trade. Shorting OpportunityThe price perfectly fulfilled my last idea. It declined and hit the target level. The market bounced off the support level and is now heading towards the resistance zone at 1.79000. Given that the market is in a bearish trend on the daily timeframe, I believe it may continue to move downward. I foresee the possibility of the market retesting last week's high before resuming its downward momentum and making lower lows. My targe is support levele at 1.77200
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Kiwi Power: Euro's Embarrassing DownfallIntroduction
The EUR/NZD currency pair represents the exchange rate between the Euro and the New Zealand Dollar. Shorting this pair implies betting on the Euro weakening relative to the New Zealand Dollar. This report outlines professional reasons to short EURNZD to target 1.75, based on recent technical and fundamental analyses.
Technical Analysis
Downtrend Indicators
Clear Downtrend on H4 Time Frame: The EURNZD chart on the H4 time frame shows a clear downtrend characterized by successive lower highs and lower lows. This pattern indicates a persistent bearish sentiment in the market
.
Bearish Momentum: The MACD line is below the signal line and in negative territory, indicating strong bearish momentum. The histogram also shows increasing bearish divergence, suggesting that the downtrend may continue
. Additionally, the RSI is at 33.55, approaching the oversold zone, which indicates potential for further declines after a short-term correction
.
Widening Bollinger Bands: The Bollinger Bands have widened, indicating increased volatility. The price is currently near the lower band, suggesting potential oversold conditions but also highlighting the strong bearish trend
.
Key Support Levels
Critical Support at 1.7748: Traders should monitor the support level at 1.7748 closely. A break below this level could signal further declines, making it a crucial point for short positions
.
Target Levels: Various analyses suggest target levels for short positions. For instance, a sell limit at 1.791-1.793 with targets at 1.758, 1.742, and 1.726 indicates a bearish outlook
. Another analysis recommends a short position with a take profit zone between 1.7340 and 1.7390, reinforcing the bearish sentiment
.
Fundamental Analysis
Economic Data
Stronger NZD: Recent economic data from New Zealand shows stronger-than-expected producer prices, with PPI Input at 0.7% and PPI Output at 0.9%, both above forecasts. This supports the New Zealand Dollar, making it more likely for the EURNZD pair to decline
.
Market Sentiment
Bearish Sentiment: The overall market sentiment for EURNZD is bearish. The presence of bearish candles and the widening Bollinger Bands indicate strong selling pressure
. Additionally, the MACD and RSI indicators support the continuation of the downtrend
.
Conclusion
Based on the technical and fundamental analyses, shorting EURNZD to target 1.75 is supported by several factors:
A clear downtrend on the H4 time frame with successive lower highs and lower lows
.
Strong bearish momentum indicated by the MACD and RSI indicators
.
Increased volatility and bearish sentiment as shown by the widening Bollinger Bands
.
Stronger-than-expected economic data from New Zealand supporting the NZD
.
Critical support levels and target zones identified by various analyses
.
These factors collectively suggest that shorting EURNZD to target 1.75 is a viable strategy, given the current market conditions and technical indicators.
EUR/NZD 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