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EUR-NZD

EURNZD a short outlook? 🦐URNZD has tested a few times the support level at 1.66750. According to Plancton's strategy if the price will break below we will set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
22
EUR/NZD: Don't miss this opportunity ! (100-pip trade) Hey guys, Currently analyzing EUR/NZD which is in a bearish sequence. If you check what is going on with cumulative delta volume (CDV), you will notice that it broke exactly at the same levels where price dropped (around 1.67230), thus creating a kind of Megaphone pattern. The idea is to wait for a pullback in this area of previous support and short the pair. I will be targeting the previous Point of Control (POC) which should act as a magnet on price. As always, if price doesn't pullback, I don't take the trade If you do like my ideas, please show some 💗. Jesse
Short
by SwissPips
EUR/NZD About to Break the Range - How to trade it?Good Morning traders! Today we will show you our vision in EUR / NZD, since we consider that in the short term it will present a good trading opportunity. Now we are going to explain why we say this: 🔸First of all, if we focus on the long-term chart (Daily), we see that the price bounced off a support zone and broke the Descending Trendline. Since then there was no clear direction and the price kept consolidating in a range. In these situations, is when patience comes into play. It happens that when there is no clear scenario to trade, we tend to look for or create risky situations that in the long term do not bring us benefits, just because we feel that we need to execute a trade. Instead of doing that, we must wait for the right situation, and now it is about to happen. 🔸What we propose is that given the scenario that we explained previously, this pair has bullish power in case there is a breakout of the current pattern. 🔸The next target is in the Resistance zone. If we analyze where we would place the entry, stop loss, and take profit, we realize that we have a negative risk-benefit ratio, since the income is above the current structure, the target is resistance, and the stop loss is below of the structure. 🔸What we do to prevent that from happening is to decrease the timeframe, and look for an opportunity there. Let's go to 4H: 🔸Basically, what we expect here is a breakout of the range but we will NOT take a trade there. We are going to wait for a corrective movement (in this case we illustrate it with a flag pattern), and we will operate that pattern, which does give us a good risk-benefit ratio. Obviously, not everything is perfect when setting this scenario. There is a possibility that the breakout is very strong and there is no type of correction, which would leave us out of the game. But it is a risk that we assume in order to put the probabilities in our favor.
Long
by ThinkingAntsOk
1
EURNZD on a bearish move 🦐EURNZD has tested a few times the support level at 1.66750. According to Plancton's strategy if the price will break below we will set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
20
NZD: Current sentiment driversLatest developments: March 14 – The RBNZ left its OCR unchanged at a record low of 0.25% and asset purchases at NZ$100 billion as expected. Once again, the RBNZ kept further easing on the table and reaffirmed their commitment to easy policy, stating that prolonged stimulus would be needed to get employment and inflation to desired levels. March 17 – GDP for Q4 printed at -1.0% Q/Q and -0.9% Y/Y. Commenting on the contraction in economic activity, Capital Economics stated “The modest solid decline in activity in Q4 reflects the fading of pent up demand and means that in New Zealand a second recession is imminent as GDP is bound to decline in Q1.” November 3 – For Q4, the Unemployment Rate in New Zealand printed below consensus at 4.9% from 5.3% in Q3. Additionally, Employment Change printed at 0.6% versus market consensus of 0.0%. January 21 – Inflation for Q4 saw CPI Y/Y remain unchanged at 1.4% while CPI Q/Q printed at 0.5% from a prior of 0.7%. Future sentiment shifts: Due to its high beta status, NZD’s performance over recent months has been strongly correlated with the market’s overall risk tone, with the currency weakening substantially as markets sold off and strengthening as the risk tone recovered and turned positive. Recent global data has been encouraging, continuing to support NZD and the overall risk tone; although, the ongoing spread of the virus throughout the world and second waves in many countries still pose significant risks. For a fundamental improvement in NZD’s outlook and bias, there will need to be an easing of concerns surrounding the spread of the coronavirus (which appears likely given the vaccine rollout). However, even then, NZD upside could become an uphill battle with many analysts arguing the currency is approaching overvalued levels.
by thunderpips
Bullish Retracement on EUR/NZDGood day traders! Today we will show you our analysis in EUR/NZD and we will explain why we consider that it has upside potential in the short term. 🔸The first bullish sign we have is that the price bounced in a zone of weekly demand. 🔸After that, there was a break of the Descending Trendline. 🔸Those were the first two factors that made us consider a potential upside move. 🔸We always seek to wait for a correction or a pullback after a breakout to have a better risk to reward ratio of the trade. 🔸That correction lasted for several days, and we can finally see the bullish breakout. 🔸The target of this movement is the Resistance zone.
Long
by ThinkingAntsOk