BASED ON THE ANALYSIS POSTED ABOVE WE EXPECT A MOVE AT LEAST TO THE DAILY LOWS
In this video update, we take a look at EURNZD and how the market could find support at its current levels. Price recently formed a weekly bullish engulfing candle off a key weekly demand zone. Price on the 4hr chart is now forming a flag pattern with the potential to break to the upside. Entry- 1.6790 Stop Loss- 1.6710 Target 1 - 1.6950 Target 2- 1.7140
Looking at the EURNZD pair, daily chart we can see the current downtrend in play. Seasonally, EURO has it's best performing month in December however, NZD longs still look in play as it heads towards the 0.7000 level. Technically this looks good for trend continuation and if we do see bearish price action here we could anticipate another impulse move lower.
Price has broken support and a possible short could be on the cards upon the retest of this broken support now turned resistance, among other factors.
Okay so I have the week mapped out, in Simply- DXY stronger, Yen stronger, Metals down and this week will prove my trade ideas and Directions of markets.
AUDNZD and EURNZD charts are both looking great for some downside movement. Watch this video cause these charts are looking very interesting.
Euro Forex Thoughts Going Into Next Week
Currently watching and waiting for this pattern to finish lower. If breakout to upside short at retest of highs
Breakdown includes identification of market structure, fibonacci and candlestick patterns. Message me if you have any questions! Stay a student of the market. #QuantumCreations
First time publishing an idea using the video format directly via TradingView. If you like such format, do like this video and give me a comment below, and moving forward I will be sharing more of such videos. Reminder - always remember to manage your risk before taking any trades.
These 3 charts helps us understand how to use a 4H chart to find a trade, how to use a 30 m chart to find the market timing as not to enter too early into the trade, and the 5m chart to find the best entry point to give us the best risk to reward entry. Macd helps us to find direction and reversal points from the Macd being over sold/bought from the stochastic...
Crab within Bearish 3 Drives Formation. D point against a very Bearish Daily support Line & 61.8% of Daily Uptrend Break.