EURNZD broke downtrend line
price based above key level around 1.7050
price also above SMA 100
RSI in uptrend line above 50
so its expect bullish momentum to resistance level around 1.7250
EURNZD is currently at a very interesting level from a technical perspective.
Why?
We are currently sitting on a key support level on the monthly timeframe, so naturally we will be looking for rejections.
However, what caught my eye on this particular pair is the fact that EUR is currently strengthening across the board so it would make sense to look for buying...
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The euro is still heading to the upside, however it has a very strong resistance in front of it. As you can see in the past, three rebounds were not broken by the price, so if it does not break the next resistance it will fall according to the scenario that you set.
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EURNZD broke major downtrendline
Price is based on HVN at level 1.7008 which indicates that pair is in accumulation phase
Pair is based above support level at 1.6970
MACD shows bullish momentum
We r waiting price to exceed resistance level 1 to open long trade
It's expected to target resistance level 2 at 1.7190
Price is facing bearish pressure from our first resistance, in line with our 161.8% Fibonacci extension and horizontal swing high resistance, where it could potentially drop further to our first support, in line with our 161.8% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing low support. It is also worth noting that the Stochastic indicator...
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It is now at a resistance area and it is expected that it will not continue to the upside because in the past he broke the upward trend line, and at the present time he re-tested the trend break so it will fall if he fails to break the resistance.
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Hello my friends,
My first trade for December is coming to you all.
I am going to take a buy positions on EURNZD pairs.
As you can see price, recently broken above the descending channel after moving inside it for 2.5 weeks inside it.
We could expect price to rotate higher as there is also weekly trendline at this 1.7000 area.
This 1.7000 could be an area of...
EURNZD H4 CHART
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At the end of 2019, the price came to the support line of 1. 665 and after that it rapidly rose to retrace to the annual high of 1.992 - this was the spring of 2020.
From that moment on, the price began to fall.
During the fall, it was able to break through several zones and resistance lines.
However, now the price has come back to the support line. Has not...
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There will be a drop to the previous breakout area. If the decline continues, it will reach the other support area.
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EURNZD est actuellement dans un triangle descendant.
J'attends la cassure de celui-ci et un reteste au niveau de la résistance située à 1.71000, pour entrer en achat avec comme objectif 1.75000.
Si le prix casse la zone de support situé à 1.69500 ce scénario sera invalidé.
Bon trades à tous
🇺🇸 EUR/NZD Setup / Analysis
🕐 2hr's Chart /
📋 Educational
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🗒 Just browsing through my analysis means a lot to me.
➡️ Please follow the analysis very carefully and every detail of the chart means a lot. And always entry depends on many reasons carefully studied
Always enter into deals when there are more than 5 reasons
combined
➕ Key Technical /...
Looking for a potential mitigation play on the daily for EN to continue it's retracement back to the origin open order at 1.70550 before we see a potential new rally to the upside longer term
As always... PATIENCE, CONFIRMATIONS, ENTRY, PROFIT!!
Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...
At EURNZD we are in a clear downward trend. The last part starts on November 13.
We are currently in consolidation and expect a resumption of the down movement.
A break below 1.6962 will confirm the continuing.
The first target we expect is 1.6828!
A break of the channel resistance and a higher peak will be the reversing signals.
If you have questions about...
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The descending channel is a very strong removal, and it is possible that he will break it to the upside in case he breaks the channel towards the upside. Of course, we will take a long position to the indicated target.
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