💡📈 "EURNZD Currency Pair Update: Last Line of Support?" 📉📊
🕵️♂️ Let's delve into the analysis of the EURNZD forex pair and uncover potential entry points.
🔄 On higher time frames such as weekly and daily, we're witnessing oscillations between smaller boxes, indicating a relative price range between the Euro and the New Zealand Dollar.
🎯 However, these fluctuations on lower time frames provide us with suitable positions to align with these trends.
⏳ In the 4-hour time frame, after multiple touches to 1.80959 and its subsequent breakdown, we didn't observe any significant buying momentum. Instead, sellers entered the market after the weakening of buying pressure, presenting red candles.
📉 In the 4-hour time frame, we're at a suitable support level for short positions, which has had a reasonable number of touches. This line stands at 1.78582. To open short positions, we can wait for a candle to close below this line and set our stop-loss accordingly.
📈 For long positions, we currently don't have any indications, and we need to exercise patience and wait for a new setup in the chart. As we're hitting lower ceilings and floors, there's currently no sign of buyers until we lose this support, indicating that buyers need more confidence to drive prices higher.
💪 Upcoming supports include 1.7777, 1.76774, and 1.74435, while resistances are at 1.79854, 1.80959, and 1.82089.
🌟 Today marks the end of the working week in the market. Hopefully, you've made good profits, and you can utilize this analysis for the upcoming week.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🔄 On higher time frames such as weekly and daily, we're witnessing oscillations between smaller boxes, indicating a relative price range between the Euro and the New Zealand Dollar.
🎯 However, these fluctuations on lower time frames provide us with suitable positions to align with these trends.
⏳ In the 4-hour time frame, after multiple touches to 1.80959 and its subsequent breakdown, we didn't observe any significant buying momentum. Instead, sellers entered the market after the weakening of buying pressure, presenting red candles.
📉 In the 4-hour time frame, we're at a suitable support level for short positions, which has had a reasonable number of touches. This line stands at 1.78582. To open short positions, we can wait for a candle to close below this line and set our stop-loss accordingly.
📈 For long positions, we currently don't have any indications, and we need to exercise patience and wait for a new setup in the chart. As we're hitting lower ceilings and floors, there's currently no sign of buyers until we lose this support, indicating that buyers need more confidence to drive prices higher.
💪 Upcoming supports include 1.7777, 1.76774, and 1.74435, while resistances are at 1.79854, 1.80959, and 1.82089.
🌟 Today marks the end of the working week in the market. Hopefully, you've made good profits, and you can utilize this analysis for the upcoming week.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
