EURNZD is still on our plan of long trade.
Nothing has changed yet.
The red bottom is still valid.
And price is move upward as we wanted and want.
Just not a pair with a huge target that is going to finish in 1-2 days.
Less is more!
EURNZD bearish gartley + descending triangle
+ PRZ confirmed from previous pattern
+ bearish gartley
+ Descending triangle
+ Long opportunity
+ Stop loss is your friend
+ Take profit depends on your risk appetite
Let's see how she plays.
My entry: 1.65540
TP: 1.67040 (150 pips)
SL: 1.65290 (25 pips)
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*I am not a financial advisor. All analysis/trades posted are from my view of the markets. Always trade at your own risk.*
GBPNZD is approaching its resistance at 1.6608 (61.8%Fibonacci extension, horizontal pullback resistance, 61.8% Fibonacci retracement ) where it is expected to reverse down to its support at 1.6552 ( 23.6% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance where a corresponding reversal is expected.
Trading CFDs on margin carries high...
Entered trade based on
- testing out UTA strategy following the BLUE indicator, from the last 5 blue indicators below 0.95 on the UTA an increase in price has followed by up to 831 pips in one case.
- we're also nearing the end of a falling wedge
- also, the price has found support on a weekly support range which is right on the 88.60% Fib retracement
Fundamentals:
NZD
- "NZ trade deficit hits $791m in Jan - double expected figure"
- "Higher living standards, slower economy: Expert's take on CGT"
- "Economy Hub: Business gloom getting worse - new EMA chief"
EUR
- The pan-European Stoxx 600 finished provisionally up 0.35 percent with almost every sector in positive territory. Autos were the top performing...
Hello Traders
My expectation is one more up impulse as C wave for the completion of the 2nd wave. That's why I'm looking for long trade setups. The last wave from the bottom could be the reversal impulse and after that, it made a correction. And it looks like it's making a lower degree reversal impulse now. So, I'm waiting for a correction to place an entry...
Midterm forecast:
While the price is below the resistance 1.7390, beginning of downtrend is expected.
We make sure when the support at 1.6325 breaks.
If the resistance at 1.7390 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is...
Our last analysis on EURNZD is still valid.
The weekly DOJI above red support zone just confirm our views.
The new trend is up for 1200 pips probably.
Good luck.
Less is more!
Hey!
- Trendlines crossing area
- Fibo golden ratio
- Round number
- Previous support becomes resistance
Wait for a bearish candlestick pattern to get extra confirmation from 1H+ timeframes!!
Do not forget to support my idea post by hitting the "LIKE button!
Thank You!
Have a nice day,
Cheers!
*This information is not a recommendation to buy or sell. It...
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.
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