Traders are currnetly long on NZD 49.2% and 31.8% are short, Price also broke the demand zone on daily timeframe. looking at continuation sells on EURNZD , if price breaks upside to the resistance zone we can look for longs above that resistant zone
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Point of Risk-Reduction: 1.67175
Stop-Loss: 19 pips
Risk: 0,5% -1%
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On the monthly time frame, EURNZD remains under pressure with a breakout and re-test of its previous ascending support line. Looking at the H2 time frame, prices remain under pressure, holding well below its resistance zone at 1.69500 area, in line with the 50% fiboancci retracement. A pullback to test this area presents an opportunity to play the drop to the next...
Hi traders. My analysis on this pair is suggesting a bearish move towards 1.68053. So far it has rejected off the 50% Fib on the 1h hourly bearish impulsive move. I would like to see the 15m break and close below the trend line the come up and retest the 50% Fib on the smaller timeframe to enter this short position. My first target Is 1.68347 from there I will...
hi everyone, EURNZD broke its ascending trend line and is facing bearish pressure from its resistance zone at the 1.6960 area. A pullback to test this area presents an opportunity to enter a short. What are your views on EURNZD?
The New Zealand Trade Balance for July was reported at -NZ$402M monthly and at -NZ$1,100M 12-month year-to-date. Forex traders can compare this to the New Zealand Trade Balance for June, reported at NZ$245M monthly and -NZ$280M 12-month year-to-date. Exports for July were reported at NZ$5.75B and Imports at NZ$6.18B. Forex traders can compare this to Exports for...
EURNZD - Intraday - We look to Sell a break of 1.6878 (stop at 1.6903)
There is no indication that the selloff is coming to an end.
Our short term bias remains negative.
A break of yesterdays low would confirm bearish momentum.
Price action is forming a bearish flag which has a bias to break to the downside.
Our profit targets will be 1.6804 and 1.6784...
EURO - Weak Bearish
1️⃣ Pressured by negative sentiment in the Eurozone.
2️⃣ Concerns about the spread of COVID-19 variant Delta in the region.
3️⃣ In August 2021, ZEW economic sentiment in the Eurozone fell by 18.5 points to 48.7 from the previous month’s 61.20.
4️⃣ Both Manufacturing and Services PMIs in the Eurozone declined due to the rise of COVID-19 in the...
As you may see the pair moves was restricted inside a rang for a while. The pair constantly shaping lower highs and higher lows which can be an indicator for a nested Elliott move. Recently the pair has just broken the range bottom with a five-wave move and then sharply corrected it to near the last high. but bears again came into play and we saw a strong...