Hello,Friends!
Previous week’s green candle means that for us the EUR/NZD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1.783.
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EURNZD may bounce from a key intraday support.
I see a double bottom after its test and a strong bullish imbalance
on an hourly time frame.
Goal - 1.805
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EUR/NZD is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 1.7978 which is an overlap support that lies above the 61.8% Fibonacci retracement level.
Stop loss is at 1.7830 which is a level that lies underneath a pullback support.
Take profit is at 1.8134 which is a pullback resistance.
High Risk...
welcome
here is my eurnzd short idea
its based on a overall bearish market
price trading under 50% fib level of monthly and weekly candle
price trading under all emas , weekly pivot and creating lower lows steadly
lets see if we can ride a bear wave here
Price is trading within a triangle. A breakout to the upside will open the way to 1.81310 while a break of the support will propel the price towards 1.79430
A Head and Shoulder pattern has been observed on EURNZD on the 1 hour time frame, following Bearish Divergence earlier, hence confirming a trend reversal, if the price breaks through the neckline.
Trade Call: Short
Entry: 1.79589 (Sell Stop)
SL: 1.80519
TP1: 1.78689
TP2: 1.77789
As idle cash looks to find a strong and secure yield, it is no wonder that the New Zealand Dollar has benefited from the current Euro-Zone crisis. Pairs such as the Australian Dollar and New Zealand Dollar are often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. Although Chinese growth may become a cause for...
Expecting to go long after retracement.
Waiting for price to establish a clear bullish signal as clear confirmation bias. This is because we also expect price to continue in the direction of the uptrend by retesting the recent higher low near last week low, keeping in line with the overall trend and Elliot Wave analysis
A "double bottom buy stop" strategy is a trading approach based on technical analysis. It involves identifying a specific chart pattern known as a "double bottom," which consists of two consecutive troughs at approximately the same price level separated by a peak. The strategy entails placing a buy stop order above the peak that separates the two bottoms. This...
A #long trade opportunity recently presented itself on the #eurokiwi (#EURNZD) #trading chart 📈.
This is indicated by the #bullish harami candlestick 🕯️ pattern just above the 1.78600 horizontal support level.
This indicates a rejection of the same level, with potential price move in the upward 👆 ⬆️ direction (#buy).
Sufficient upward momentum should see price...
The EURNZD pair is currently forming a Harmonic Pattern, specifically an XABCD pattern. This pattern indicates potential reversals in the market. At the completion of the pattern, we identify Point D, which is considered a Potential Reversal Zone (PRZ).
Confluence with Key Support Area:
Point D aligns with a Key Support area, further reinforcing our bias toward...
I'm expecting a pullback to the neckline of the 'active' local trading range top neckline.
If a range forms on top of this neckline it will be a super strong BUA in phase D of the 'active' local trading range. Ideally you would see a separate 'active' trading range which would be the BUA and ideally this would be a re-accumulation active trading range as opposed...
The 4 hour chart demonstrate how clear the "market conditions" are in that I am trading inside of a re-accumulation local / greater trading range at the area of a spring which has formed an accumulation active trading range. This chart demonstrates how clearly a spring and re-accumulation can be observed.
EURNZD - Trading Spring as Accumulation 15 Min Chart
See private charts for 5 minute (this trade was executed on 5 minute)
The entry point chosen is pure Wyckoff - Spring Local Trading Range, Accumulation Active Trading Range. Overall Trend; bullish
