ForceFollower
Short

EURNZD Trending Down

FX:EURNZD   Euro Fx/New Zealand Dollar
187 17 7
As the sloped support gave way, price seems to be headed towards the lower borders of the red channel. A retest of 1.5 is very likely. The EUR has been the weakest currency recently (even weaker than the AUD), whereas the NZD is the strongest one. The momentum still favors short positions.
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There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
motleifaul
2 years ago
I have some doubt. Your blue rising support line has not yet been broken convincingly in my opinion. I wouldn't exclude a retest of the upper boundary of the downward channel.
+1 Reply
ForceFollower motleifaul
2 years ago
Thanks for the comment. I just feel it in my gut that the blue line's been broken for good. :-) Why? Because the current price levels don't seem to be rejected. But I may be wrong, of course.
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jangseohee
2 years ago
Channel B continues after broke down from triangle
EURNZD, triangle in new green channel?
+1 Reply
ForceFollower jangseohee
2 years ago
Right. To me it looked like it's already broken down from this triangle.
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motleifaul ForceFollower
2 years ago
You have convinced me.
+1 Reply
ForceFollower motleifaul
2 years ago
Here we're talking about the weekly/monthly charts, so the moves must be really strong. But of course nothing lasts forever, and at some point they will end as well. However, until then I am short EURUSD and EURNZD.
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forexfox
2 years ago
very very good :)
+1 Reply
ForceFollower forexfox
2 years ago
Thank you.
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HexVex
2 years ago
Beautiful! Well done!!
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ForceFollower HexVex
2 years ago
Thanks. It's a good child, it just keeps following the channel... :-) Nothing fancy nor... nasty, like in the case of USDCHF.
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HexVex
2 years ago
A very well behaved pair. Deserves a pat on the back unlike CHF which should get harsh punishments for the next 10 years :) I seem to remember you were short EURCHF a while back and I thought it was crazy! Did you have the position open yesterday?
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ForceFollower HexVex
2 years ago
Yes I did. But I wasn't short EURCHF, but long USDCHF, because it was in a very strong up trend. I kept on profiting from it until the SNB decision - that's when I blew up my account and got into a negative balance. I sent a request to my broker to address this problem (they froze trading these pairs for more than an hour), but they haven't answered to me yet. That account wasn't very big, but the negative balance was something I totally didn't expect to see.
For more details on what happened, you can follow this thread: https://www.tradingview.com/v/S4eQKm78/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_favorite_chart_action
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HexVex
2 years ago
Oh man.. Sorry you had to go through that!. Good thing you didn't have an account with Alpari :) Otherwise it could have been worse by the sounds of things. I pity the people in eastern Europe who had their mortgages in CHF :(
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ForceFollower HexVex
2 years ago
Exactly, my colleague's mortgage loan is in CHF. He said the entire cost of his loan has just gone up by 20 000 EUR! Lucky me, I lost only about 1000 USD. :-) (and I will recover it :-D).
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HexVex
2 years ago
That's got to hurt :( I'm sure there are a lot of people thinking of offing themselves after yesterday. My broker is FXCM. I hope I still have an account on Monday :S
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ForceFollower HexVex
2 years ago
Ouch! I heard the news. I wish you all the best with your broker.
http://www.bloomberg.com/news/2015-01-15/new-zealand-currency-broker-closes-on-losses-after-swiss-shock.html
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HexVex
2 years ago
Thanks man! Appreciate it! :) Good luck to us all during these violent market storms!
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