1-Need to break the support level 2- Pay attention to round numbers
Hey traders, On the EURNZD 240 minute timeframe we can see that price has broken the bullish trendline. I'm not expecting a retracement back to the trendline / previous structure area for an entry. Cheers
My brief Daily & 4hr EUR.NZD chart analysis. I will be updating this pair on multiple timeframes to give a clearer insight into what i'm watching.
Idea: Testing strategy against the retrace using OBOS and stacking related time frames. I am expecting the retrace to have reached its lowest price limit and price to return to the daily up trend. Pros: Perfecting the entry will maximize the profits from the previous leg down. Accurately predicting retracement lows could also be useful for early entry until...
EUR/NZD may move down about 200 pips if it pulls back and finds support. Channel suggest downward move and RSI is in sync with the chart (going down).
Bullish cypher forming, possible 3rd elliot wave.
The long term uptrend line was broken down. So now we have to sell this pair. We expect some retracement to the uptrend line and the resistance area @ 1.5700-1.5740. Great area to sell with 20 pips risk and a TP target @1.5450 which is a conservative profit taking area.
Our EURNZD Long was based on trend continuation + indicators, however, we played it against a forming H&S pattern, which has now completed on the daily chart. Our Long has not stopped out so I will be keeping my Long open in case of a recovery and continue to monitor the situation. However, if my short does get triggered then I will favour the H&S and may decide...
EUR/NZD broke yesterday support set by last low that formed prior to setting high and also broke the uptrend line. Bears have clearly overtook control on the market and are heading to 1.5455 support. There we can expect reaction of bulls and in case of rebound, area between 1.5627 – 1.5670 can be a resistance for this pair. In addition, 20-day SMA can provide a...
This idea stems mainly from a technical analysis on the pair. Given the EUR is still (fundamentally) relatively bullish against most other currencies, the recent down move in EURNZD could be considered as a retrace before another leg up. Technically, we are at the intersection of two trend supports and a demand zone. This pair had broken under one of the trend...