EURNZD EURNZD is forming a Descending triangle pattern on the 4Hr with a bullish divergence.
Upon the breakout and restest of the trendline we can take a long trade.
NZDEUR trade ideas
EURNZD - SELL IDEAPrice is trading inside a daily imbalance and created some equal highs (liquidity) that can be sweepped by reacting from the 1h imbalance right above. It is showing some corrective move to the upside, showing intention to the downside.
DeGRAM | EURNZD breakout saleEURNZD is trading near the lower boundary of the descending channel.
The price has fallen under the dynamic support, which now acts as resistance.
The chart formed a bearish takeover when testing the trend line, and after the candle shadow re-defined the dynamic resistance.
We expect the decline to continue after testing the lower boundary of the channel.
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EURNZDEURNZD is showing bullish divergence place a buy as it will break its Last LH along with ABCD PRZ
#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
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.
EUR/NZDBullish divergence is a concept used in technical analysis to identify potential buying opportunities in the financial markets. It occurs when the price of an asset is making lower lows, but an indicator (often a momentum oscillator like the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), or stochastic oscillator) is making higher lows. This divergence suggests that the downward momentum is weakening, which could be an early sign of a reversal to the upside.
Here's a step-by-step explanation of how to identify and interpret bullish divergence:
Identifying Bullish Divergence
1. **Price Action**: Look at the price chart of the asset and identify two or more consecutive lower lows. This indicates that the price is in a downtrend.
2. **Indicator**: Choose a momentum indicator like RSI, MACD, or stochastic oscillator. Plot this indicator on the chart below the price action.
3. **Compare Lows**: Observe the indicator values corresponding to the price lows. If the indicator is making higher lows while the price is making lower lows, this is a bullish divergence.
Interpretation
- **Weakening Bearish Momentum**: The higher lows in the indicator suggest that the bearish momentum is weakening even though the price is still falling. This can be an early sign that the downtrend may be losing steam.
- **Potential Reversal**: Bullish divergence often precedes a reversal or a significant upward movement in price. Traders use this as a signal to prepare for a potential buying opportunity.
Example
Consider a stock whose price has fallen from $50 to $40, making lower lows. At the same time, the RSI might have fallen from 30 to 25 initially but then risen to 28 on the next lower price low. This higher low in the RSI, coupled with a lower low in the price, forms a bullish divergence.
### Confirmation
- **Volume**: Look for an increase in trading volume during the divergence as this can confirm the potential reversal.
- **Support Levels**: Check if the price is approaching a known support level, which can strengthen the bullish signal.
- **Candlestick Patterns**: Look for bullish candlestick patterns like hammer, engulfing, or doji near the divergence point for additional confirmation.
Example Chart
To visually illustrate a bullish divergence:
1. **Price Chart**: Plot the asset’s price showing lower lows.
2. **Indicator Chart**: Below the price chart, plot the RSI (or any chosen momentum indicator) showing higher lows.
3. **Highlight Divergence**: Draw lines on both charts to connect the respective lows and highlight the divergence.
Practical Tips
- **Use Multiple Timeframes**: Confirm the divergence on multiple timeframes to strengthen the validity of the signal.
- **Risk Management**: Always use stop-loss orders to manage risk as divergences can sometimes fail, and prices can continue in the original trend direction.
- **Combine with Other Indicators**: Use bullish divergence in conjunction with other technical indicators and analysis methods to increase the accuracy of your trades.
Understanding and identifying bullish divergence can be a valuable tool in a trader's toolkit, helping to spot potential buying opportunities in the market.
Potential bullish rise?EUR/NZD has just bounced off a support level which is an overlap support that lines up with the 161.8% Fibonacci extension and could rise to our take profit.
Entry: 1.76311
Why we like it:
There is an overlap support level that lines up with the 161.8% Fibonacci extension.
Stop loss: 1.75413
Why we like it:
There is a pullback support level which aligns with the 78.6% Fibonacci projection.
Take profit: 1.77642
Why we like it:
There is a pullback resistance level which lines up with the 38.2% Fibonacci retracement.
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EUR-NZD Long From Support! Buy!
Hello,Traders!
EUR-NZD has retested
The horizontal support
Of 1.7630 from where
We will be expecting
A local bullish rebound
Buy!
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Analysis on EUR/NZD.EUR/NZD is on it's trendline support level. Market already respected this trendline support level multiple times. Wait for market to respect this level again and then take entry with stop loss below 1.75400. There are 90% chances that market will move towards upside from this point.
EURNZD Long BiasHello traders,
A swing idea here..
The setup is looked at from technical perspective mainly. We can see the impulse and correction pattern, as well as a nice weekly demand (which i refined to 3D to publish)
I will not enter this trade immediately, i will wait for confirmation on lower time frame and go from there.
Trade safe guys! Wishing you a great week ahead.
EURNZD buy now 1,76600I´m expecting this pair to climb soon due to a strong demand zone. If you have decided to trade, you can enter now at the currect market price. SL is a bit tight, adjust it to your position size. First TP zone is the green line, TP a part of the position there. Don´t keep all till final target. I´m suggesting to set "conditional SL" If any 1D candle closes below the SL zone, cutloss your trade.
EUR NZD BUY IN DOWN TREND RIGHT NOOOWThe price liquidate the bottom of two 30 minutes heikin ashi candles and these candles are located at the bottom of 4 hour support or demand zone , NZD CAD start to fall which support EUR NZD will go up to test newly created supply area
High Risk to Reward
EUR NZD BUY
entry : 1.6745 - 1.6755
stop loss : 1.6737
Take profit : 1.7700
if you agree please leave like or comment for discussion
EURNZD ShortPrice Action Day Trading
H4 Bias: Bearish
Broke through a swing low closing lower. Fundamental support that EUR is bearish and expect to increase interest rate. NZD is bullish and got intention to increase interest rate.
Setup: short trade at broken support level with SL at H1 swing high. Targeting next H4/D swing low
EURNZD SELL SETUPWith the break of structure here on the daily price is still in a downtrend. Will be looking for another opportunity on the pull back or retest!
EURNZD - SELL
NZD has been strong against EURO for the last month and Target Oreder Block is Below spotted by my Kean Eye
Tue 21st May : )
Support has been broken
Pulled back into FVG
Momentum Candle in play
Key Points
May 22, 2024: Reports emphasized the New Zealand Dollar's strength against the Euro, driven by New Zealand's economic performance and higher interest rates.
May 23, 2024: Analysis indicated continued bearish sentiment for EURNZD due to Eurozone economic concerns and New Zealand's favorable trade balance.
NZ WIns : )
EURNZD Technical analisisEURNZD even the eurnzd pair is at the bottom of the ranges , it has a clear downtrend path on the higher timeframes as the european currency indexes are showing the lack of the standard retracements that are one of the strongest TA indicators that exists on the markets
buy #eurnzd at 1.7980 and take profit at 1.8102 ratio 1:3buy #eurnzd at 1.7980 and take profit at 1.8102 ratio 1:3 is a trade idea as $nzdemployment data made big miss and were so bad but since #nzdusd #eurnzd #gbpnzd outperform on #nzd side while shoulf be the opposite so i try this trade.
may market wanna put off all retail trader
may copper are up so much that boost nzd
for now i see 0 reason why nzd outperform after the so bad employment data
so i try with eurnzd but may better gbpnzd..only nzdjpy gone in good way but coz boj intervention
EURNZD- Possible Reversal?EURNZD has completed the AB=CD pattern. At PRZ it has created bullish divergence. There is no continuation pattern for price to go further down. At indicated entry point, the price will also break the bearish trendline adding further confluence to the expected upside move
EURNZD What Next? BUY!
My dear friends,
My technical analysis for EURNZD is below:
The market is trading on 1.7713 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 1.7827
Recommended Stop Loss - 1.7636
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
EURNZD Massive Long! BUY!
My dear subscribers,
This is my opinion on the EURNZD next move:
The instrument tests an important psychological level 1.7709
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.7821
My Stop Loss - 1.7645
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
