Keep an eye out for EURNZD. It has dropped under the 1H 50 EMA.
As long as the 50 EMA holds as resistance, we have a go for a move back down.
Put your SL above the 1H 50 EMA with a little bit of space to it in case of volatility.
A potential big drop is currently imminent on EUR/NZD.
*Important: To enter this move, wait for the breakout of 1.77 and the resistence under it. If it does not break this level, then this trade is invalid.
Once broken and the resistence found underneath it, it can go anywere near 1.74
EURNZD have rallied quite sharply from past few weeks, i am expecting it to retest the highs around 1.7470 area. Since momentum is still intact with the price action so i would recommend to play long.
Have a great weekend!
EURNZD broke below the multi-days bullish channel, all short term momentum indicators are suggesting more to downside-so I am looking to short it around 1.6534-63 for a target to 1.6333, stop above 1.6629
Note: My charts are usually very messy, so I've re-done it and removed a lot of unnecessary indicators etc so you get the overall idea.
1D chart shows a nice clean uptrend on the EURNZD consisting of HL and HH, 4H chart confirms the last candle closed on the EMA200 line, which is also the lower channel of the uptrend (conservative entry would be waiting for a...
After a through analysis, I have found out a potential shorting opportunity for EUR/NZD. We should wait for a pullback before we sell. The pattern which is actually looking like a Head & Shoulders (SHS) is actually called a "King's Crown" . A SHS is called a "King's Crown" when the left bottom is taken out by the right bottom. You can start selling @ right...
the 1.4720 zone looks to be a strong area of support so ill be looking to take a long up to my 200ema(blue). Both MACD and Momentum have been going bullish on 1h and creating higher lows where as market price has been staying low.