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EUR-NZD

EURNZD Long Setup & AnalysisWhen we compare last week’s EUR and NZD COT Report, we can see that the EUR is dominating once again with its long contract positions. This week we saw another huge increase and for the near future we can expect the EUR to hold its strong upward momentum. This may lead the EUR/NZD pair to reach the psychological 2.0000 mark. For more than 3 years now, price keeps respecting our weekly bottom trendline. It was broken twice, but demand pressure came not long after. This on the other hand lead to multiple attempts to reach the monthly supply zones near 1.80000 and 1.90000. The COVID-19 Pandemic pushed priced over the 1.90000 and it almost reached the 2.0000, but a rejection came right away, and we didn’t see a weekly close above 1.90000. A few weeks ago, price reached the bottom trendline and it received support once again. From a technical and COT perspective, we have 1 possible scenario: 1. Price moving towards the 1.90000 area, where it aligns perfectly with the 0.618 Fibonacci level of the previous down wave. If we see a strong break above it, a move towards 2.00000 may take place. While price moves towards the weekly critical zone, a couple of small corrections may happen. Happy Trading!
Long
by SigmaTrading
2
Don't miss the great buy opportunity in EURNZDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.735). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURNZD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 64. Take Profits: TP1= @ 1.7550 TP2= @ 1.7650 TP3= @ 1.7960 TP4= @ 1.8265 TP5= @ 1.8605 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
17
EURNZD Buy Update +800 Opportunity - Week 3Week 3 update: Currently up 5% from EURNZD trade, up another 5% from EURAUD (see my other idea). We now have a strong bull candlestick closed on the daily, another confirmation of upwards movement. Indicators Recap: 1. EURNZD in upward weekly channel, support has held. 2. Stochastic RSI on weekly in buy zone. 3. Strong Bull candlestick closed on daily 07/13/2020. Entry: Wait on retracement on a shorter time frame 2hr or 4hr around 1.7330 area. Next resistance level at 1.7540 for a shorter term TP level. TP 1 and TP 2 remains the same. Good luck trading! Charles V CVFX Management Trading made simple.
Long
by cvfxwealth
3
Don't miss the great buy opportunity in EURNZDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.735). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURNZD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 64. Take Profits: TP1= @ 1.7550 TP2= @ 1.7650 TP3= @ 1.7960 TP4= @ 1.8265 TP5= @ 1.8605 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
13