EUR-NZD
EUR/NZD LONG POTENTIAL EUR/NZD ANALYSIS
6/16
Looking for long potential on this pair
While price is ranging in a correction
we can expect to see a push down lower to test support
EUR/NZD & EUR/AUD move together!
Do NOT trade before taking confirmation
Reminder: Drawing is only an idea of how the price will move, it's NOT 100% perfection due to market nature
TO STAY UPDATED REGARDING THIS PAIR...
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EURNZD ANALYSISEURNZD is forming inverted head and shoulder pattern
Price is based on HVN at level 1.7507 which indicates that pair is in accumulation phase
MACD shows bullish momentum
RSI is above key level
we r waiting price to break downtrendline and neckline to open long position
It's expected to target first resistance level at 1.7975
then finally target supply zone at level 1.8265
Downtrend to continueI ve been posting this earlier...I expect price to drop 476 pips. It should end at the yearly pivot eventually from where it ll decide where it likes to trend next.
But I would target Median price first, 100 percent Fib extension of a previous leg.
Good luck
This is no financial advise
Don't miss the great buy opportunity in EURNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.7333). 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 1.7577
TP2= @ 1.7755
TP3= @ 1.7980
TP4= @ 1.8295
TP5= @ 1.8629
SL= Break below S2
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Don't miss the great buy opportunity in EURNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.7333). 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 1.7577
TP2= @ 1.7755
TP3= @ 1.7980
TP4= @ 1.8295
TP5= @ 1.8629
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 ❤️