WeTradeWAVES
Short

We are looking for a down move on EURNZD

FX:EURNZD   Euro / New Zealand Dollar
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We are looking for a down move on EURNZD , if you know how to trade that down move, go for it but if it goes up, ignore it.

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What's the reason?
+4 Reply
Hey @JohnSp, The reason is the structure, we can see that the structure is about to go down.
+3 Reply
Has a couple hundred more pips to go before we get strong moves down.
+3 Reply
WeTradeWAVES baderocks2
Hey @baderocks2, thank you for your view, for us, EURNZD is almost ready to move down and as we mentioned above, if it goes up we will not buy it. Only if it goes down we will be in the sell.
We can see that the structure is about to go down and the thing is if Forex Trading your job is to make money not to be right.
Thank you for your view.
+1 Reply
It looks like it has a very similar setup to EUR/AUD and was climbing up in a bullish mode almost on no or little news that had positive look for Eur so I wonder if this was just a technical stretch and early seller shakeoff? US and China negotiations negative impact is not as great as was the NZD and AUD devaluation in the pas few months.
+1 Reply
Hey @Erland, This one is much clearer than EURAUD but you know from our weekly forex forecasts on youtube, we are forecasting EURAUD to go down too.
We have a different view about reading the news we hope in the next videos or next posts to explain more about that topic but here is a small point.
"The news creates volatility in the market but the market 90% of the time follow a certain direction defined by a structure"
And once you know how to read that structure, you will have an edge in the market...
It is a very big topic but we tried to explain in very few phrases.
Thank you for your view.
Reply
Erland WeTradeWAVES
Hello, Yes, I understand it all, just was wondering about your view and eur/aud is pushing for 1.639 which is 1.618 extension of a previous drop. For this reason I cautiously asked if you see the bullish move still being in place which partially applies to eur/nzd as they trade closely most of the time. But it is my belief that both pairs need about 2 weeks for the drop to begin.
Reply
@Erland, we've got your point, for us structurally they are ready to move down, however, if they don't then we will look for the structure again.
In term of "They trade closely most of the time." mmm we cannot see that or we don't look at this point since if you put the 2 charts and look closely on them, there is a totally different movement.
Are you watching our weekly forex forecast on youtube? where we are explaining our view about correlation.
you might be right that they need 2 more weeks, for us any down move we will try to be in... Trade with care.
Reply
Erland WeTradeWAVES
I'll checkout your video in the coming days. The similarity on eur/nzd and eur/aud I see in D1 chart when zoomed out. One chart started Mar 26 another Apr 18 but if you look at the shape of their moves until today - you will see similarities in the shape of the candles. Either way - we should hit 1.6-1.58 in 4 weeks time on eur/aud and 1.695 on eur/nzd. I'm already in.

Thanks for everything.
+1 Reply
Same view, also giving us divergence after making the new high, big move to follow
+1 Reply
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