🎯📈 "EURNZD Analysis: Short-Term Overview" 📉💡
🕵️♂️ Let's analyze the EURNZD currency pair together and update our previous analysis.
🔍 In higher time frames, like other currency pairs, we are mostly in a ranging market, but this pair shows a slightly stronger inclination towards an upward movement.
🕓 In the four-hour timeframe, after hitting the daily resistance at 1.80951 and breaking the downtrend line, we experienced a retracement to the support at 1.78582, tested this support line again, and then moved back towards the resistance at 1.80951.
📈 In my view, this move indicates a public return to the last established ceiling before breaking the trendline, which halted the price within this resistance zone and did not lead to further upward movement.
🛡️ Our resistance for long positions is quite clear, and after breaking this resistance line, we can continue our long positions in the direction of the trend on this timeframe and open new long positions.
📉 For short positions, we currently have a supportive trigger, providing a suitable space for short positions. The short-term line at 1.79830 is a potential trigger, and if this support breaks, we can initiate short positions. Furthermore, spending more time in this zone between 1.80951 and 1.79830 and having more interactions will make our positions more logical.
⚠️ The primary trigger for our short position, if we lose the 1.79830 support, is the next support line at 1.78582. Another test of this support is needed for the next short position.
📉 Our upcoming supports are at 1.78582, 1.76953, 1.75569, and our resistances after breaking the price ceiling are at 1.82359, 1.84246.
😊 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.
🔍 In higher time frames, like other currency pairs, we are mostly in a ranging market, but this pair shows a slightly stronger inclination towards an upward movement.
🕓 In the four-hour timeframe, after hitting the daily resistance at 1.80951 and breaking the downtrend line, we experienced a retracement to the support at 1.78582, tested this support line again, and then moved back towards the resistance at 1.80951.
📈 In my view, this move indicates a public return to the last established ceiling before breaking the trendline, which halted the price within this resistance zone and did not lead to further upward movement.
🛡️ Our resistance for long positions is quite clear, and after breaking this resistance line, we can continue our long positions in the direction of the trend on this timeframe and open new long positions.
📉 For short positions, we currently have a supportive trigger, providing a suitable space for short positions. The short-term line at 1.79830 is a potential trigger, and if this support breaks, we can initiate short positions. Furthermore, spending more time in this zone between 1.80951 and 1.79830 and having more interactions will make our positions more logical.
⚠️ The primary trigger for our short position, if we lose the 1.79830 support, is the next support line at 1.78582. Another test of this support is needed for the next short position.
📉 Our upcoming supports are at 1.78582, 1.76953, 1.75569, and our resistances after breaking the price ceiling are at 1.82359, 1.84246.
😊 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.
