HI there,
EURUNZD was moving nicely from the bottom and about the complete the bullish wave at the top we are anticipating the reversal on the EURNZD and next big bearish wave and many opportunities in that bearish wave.
How you can trade on this chart.
1. Let the price hit the top and watch the lower time frame for sharp sell and join the sell and keep...
EURNZD now has approached the highest high of this daily chart.
This will take it down again because of a double top with a strong bear signal ?
Yup, high probability!
Remember this is also the end of 5th wave on a high probability of reversal AND D for a CYPHER!
LESS IS MORE!
The first pair we are going to be looking at is EURNZD which we are currently holding a Short. Price however has moved in the opposite direction and is now at a key level. On the daily chart we can see that price is at the daily support and is testing %50 Fib Retracement.As you can see from looking at the RSI Indicator we can see that price is really overbought ...
we have here clear flat structure. but what flat will it be remains to see...
if it turn now it will be running flat
BUT
im noticing that that up move is not finished as per chart, and taking in consideration the medium term strength that im expecting in euro, going more up may be plausible and may be even that cypher pattern with expanded flat.
Waiting for break black trend line to sell,
or wait for breaking the trend line to buy black
Good luck , support you like, please leave your ideas below.
Updates will be in the comments section below.
Price is now approaching key level resistance, where a reversal back towards the bottom of the range may occur. Good potential swing trade ill be watching for the upcoming weeks/months.
EURNZD approaching our first resistance where we might see a corresponding drop in price. Stochastic is approaching resistance where we might see a corresponding drop in price.
The Euro vs. the New Zealand Dollar. The New Zealand dollar had performed well against the Euro recently because it is often considered to be a proxy for the Chinese growth. Eurozone weakness may limit any significant reversal if concerns about Chinese growth occurs as the country shifts from export lead growth. The NZD has benefited from the recent Euro-zone difficulties due to idle cash efforts to find strong, secure yields.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
