In EURNZD we have found Ascending channel Pattern in Daily Time frame
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.
As you can see on Charat an ascending...
The pair is in a very good dimensional move
Facts: 1- AB=CD completed
2- another harmonic pattern going on
Now we are waiting for the price to break the prior level from up side which will lead eur stronger but be aware of Reversals.
let the harmonic pattern form and let the price break the PRZ of that pattern to go long.
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EURNZD is on the grossing area and it could be a spot where you can do some short-term scalps.
Short-term & scalps; because the price increase has been pretty sharp but still, the area should produce some short-term reversals.
So, take it as a risky trade and you can wait for a rejection from the smaller timeframes.
Do your own research and if this matching...
One way to determine the strength of a currency is to add 2 moving averages to the charts, one set to 5 and one set to 12. If both the 5 MA and the 12 MA is pointing upwards, that means +1 and vice versa if both of the MA:s are pointing downwards. If they are pointing against each other, different direction or are flat lined, thats equals 0 as we are most likely...
. There is a possibility of temporary retracement to suggested support line (1.6815). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EUR/NZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
EURAUD tested and quickly rejected a move above the final resistance level of the bullish trend, that spans all the way back to the end of 2017. The move to test final resistance level was a direct result of the trade war escalation. Nevertheless, the fact that price is very responsive to the final resistance level indicates that the trend is very much...
Opened small short here already, aiming for marked purple targets and in ideal circumstances for full retrace. If will go OK, will add on the way down.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Price is in a downtrend still making a series of lower lows & highs. Price is now nearing structure, along with the 50 fibonacci retracement level & strong support/resistance zone. Watching for a reversal back to the downside for a potential trend continuation to set a new lower low.
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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.
So if you like our IDEAS, give us a thumbs up, and leave a comment.
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The news today pushed this bad boy higher, and from a daily timeframe I can see a cypher building, and almost complete. I expect to see price hand around this level for a little before beginning its move south once more.
4 Hour Chart Explanation:
- Price bounced on the Resistance Zone.
- The rejection of the zone was accompanied by a bearish candlestick.
- Now, it is on an Ascending Trendline.
- If price breaks it at 1.7, potential to move down towards the Support Zone at 1.656.
Our Weekly and Daily Analysis also support this idea. Take a look at them!