FullTimeTrader
Long

EURNZD-many reasons to buy at all-time lows, at least 700 pips

FX:EURNZD   Euro Fx/New Zealand Dollar
258 3 5
Im very excited because this pair confirms my bias that the EUR is extremely oversold and will make a strong correction next days.
This pair is in all-time lows, I have many reasons to buy based on technical and currency strenght analisis.
First of all, Iets take a look at W1 chart analisis:
snapshot

We have a bullish butterfly already completed in confluence with a trendline support.
Fundamentally, I know the EUR may do another push down or spikes because the QE             of BCE             starts next week.
Thats why a will use INVESTOR STYLE, this means i will enter right now and if the price touched new lows o spikes i will hold and add more positions.
I doubt it but just in case a put three possible entries on W1 chart.

Here on D1 chart we see the price has already tested the PRZ and is spiking from it. There is alson an AB=CD pattern and a D1 trendline support.
********************************
Currency Strrenght Analisis
********************************
The EUR is extremely oversold against other pairs:
This is the EURUSD-monthly chart:
snapshot


The same scenario with EURGBP            
snapshot


The NZD is overbought and has already started a correction against other pairs:
NZDCAD            
NZDCAD-big bat pattern at historical level

NZD JPY
NZDJPY-some retracement after a 500+ pips rally

Im ignoring the NZDUSD             because we may think the correction is because the good news form US.
*************************************************************************************************************

Thats all, off course nothing is 100% sure in forex but i think this trade has great succesful posibbilities.
Best regards.

riskmode TOP
2 years ago
How do you figure target 1 to be way up there?
Reply
FullTimeTrader riskmode
2 years ago
Hello, look at W1 chart, these are the same targets: near 0.38 and 0.61 fib retracements and strong levels of S/R
snapshot
Reply
Some good research and analysis. You have just confirmed my view of this pair.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out