I will be going long on EURNZD when market open. If you are going to take this trade please use proper risk management. Wish y'all a profitable and a good trading week! 🍻 🍺
EURNZD has been falling since March '20 and we're now approaching a strong buy zone. Depending on price action as we near the zone, we may have an opportunity to buy with great risk:reward.
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 investment decisions. this is no signal. it's my opinion. trade your own risk. and Must Follow Money...
professionals increased long eur 13k by last week. two bar reversal setup formed on daily time frame.
EURNZD, has a very strong trend line and strong key level of Support! Trade when the price action tells!
According to market structure , a bearish movement is there and steep flag breakout providing a good confirmation of strong sell with a good bearish candle 🙌
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Undoubtedly Nzd alongside Aud was one of the strongest currencies at the end of 2020... With its Euro counterpart though, after finding a bottom and reversing at the beginning of December, Nzd found strength again but didn't manage to clearly make a new low under 1.6950, instead it confirmed this support and put in a tweezer bottom candle formation on the last...
After it has found a bottom in 1.7 zone and a first leg up to 1.735, EurNzd made a higher low at around 1.7050 and for 10 days now is trading in a range. I expect this range to be broken to the upside and a new leg up to follow. My target for this trade is 1.7500 with interim resistance at 1.7350 (previous high) This bullish outlook is valid as long as the price...
This is EURNZD 4H timeframe analysis, i'm expecting it to continue selling.
The reversal for EurNzd is something that I've been watching and trading and, after 1.7 zone low, a higher low could be in place now in 1.7050 zone. At the time of writing the pair is trading just in correcting flag's resistance and a break here would expose 1.7350 previous high 1.750 zone could also be a target for swing traders and really is not out of the...
Soon it will be time to buy, we are actually starting with opening buy positions today
From 20 Oct 1.8 high, EurNzd dropped almost linearly 1000 pips. The pair found strong support at 1.7 zone and after a few days of consolidation broke the descending trend line and the first leg of correction come that let the price to 1.7300 zone. Now the pair is correcting this first leg up and a new one could start soon. 1.7 should be very well defended by bulls...
Harmonic pattern Correction of XA leg Above weekly trendline After confirmation => BUY