Hi fellow traders, EURNZD looks ready to make a move lower after completing the WXY correction in a flag formation. Target the 1,7143 level and move your stoploss to break even as soon as we reach the grey 'risk free zone'. Good luck and trade safe!
🔰You can see the analysis of Euro to New Zealand dollar in the four-hour time frame (EURNZD _ 4H)🔍
💥According to the black🖤 downward trend line as well as the supply zone, the best area and price to sell this currency pair is in the overlap of these two areas🧐and we can expect the price to fall to the support🧡 line❗🔻
I hope the analysis was useful for...
The EURNZD 4 hourly chart above visualizes the advance between July and August 2. More importantly, it reveals that the rally is a textbook five-wave impulse. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v).
According to the Elliott Wave principle, this means two things: first, that EURNZD is in an uptrend; and two, that a three-wave correction can be expected...
THIS TRADE IS GOING TO THE UP B/C HE BREAK OUT THE TRIPLE TOUCH MAKING ENOUPH BULBAK,,WE SHALL WAITING TO COMPLETE THE HIGH IMPULSIVE AT THE SWIMM HIGH
Projection for $EURNZD next week..
Why Bullish?
- Consolidated at 4H
- Small Green and Red Candles
Gathering strength and orders, we just need a big RED Candle from BELOW.
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# Price has reached the previous swing high
# Resistance level is holding (so far)
# Did you see the massive double bottom? Price is at the neck line now
The market is still bullish until market structure changes. At this stage my expectation is for price to do one of these things:
1. Break through resistance, possibly test resistance as support and push...
