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EUR-NZD

EURNZD Sell opportunityThe EURNZD pair eventually entered its bullish zone as outlined by our last analysis in April: The price is now high enough within the Channel Down to justify a medium-term sell as not only did it come too close to the Lower Highs (top) trend-line but the 1D RSI is on Lower Highs after hitting the overbought level of 70.00. On top of that, a 1D Golden Cross is emerging (when the 1D MA50 crosses above the 1D MA200), which even though it is a technically bullish formation, last time it marked a 2 month bearish sequence. Target: previous Low at 1.5600. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Short
by TradingShot
1
EURNZD Neutral but watch these break-out levelsThe EURNZD pair has been trading above the 1D MA50 (blue trend-line) since the April 25 rejection. The area within the 1.6365 Resistance and 1.5930 Support is a Neutral Zone and traders can take advantage of it by scalping for as long as the price remains within. A break above the 0.5 Fibonacci retracement level will be bullish towards the 0.618 Fib and the 0.786 in extension (1.6701 and 1.7000 respectively), while a break below the 1.5930 Support will be bearish towards th 1.56000 low of April 05. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
5