EURNZD-LONG
EURNZD LONGEURNZD IS IN MONTHLY DOWN TREND BUT IS HAVING TROUBLE BREAKING LOWS'
PRICE IS AT A MONTHLY DEMAND
PRICE HAS BROKEN AND RESTED MY WEEKLY DOWN TREND LINE
PRICE HAS BROKEN AND RESTED MY DAILY DOWN TREND LINE
PRICE HAS RETESTED 1.650000
PRICE BROKE OUT OF MY SUPPLY ZONE AND NOW HAVE TURN THEM TO DEMAND
PRICE IS RESTESTING 1.675000, MY DAILY AND 4HOUR SUPPLY TURN DEMAND
EUR/NZD Multi-timeframe Analysis + Bullish SetupGood morning traders, today we bring you our bullish setup in the EUR/NZD pair along with its long-term analysis.
🔸As we see in the 4H chart, the price is in a great consolidation at the edge of the bearish channel.
🔸Regarding the corrective pattern, it is a clear A-B-C pattern, which we can now consider finished.
🔸If we draw the trendline of the corrective move, it has already been broken.
🔸Although the previous point is evident, we consider that the safe place to take bullish positions above wave B of the correction, since it is the previous high, and, if it is penetrated to the upside, that will be a clear bullish signal.
🔸Regarding to the stop loss, it is positioned below the structure.
🔸The take profit is in the next Resistance zone.
🔸The reason why we look for this setup in the 4H chart is because of the clear bounce that the price is making in a huge zone in the weekly chart, we can see it below.
EURNZD: Will Keep Growing! The Next Target is:
Here is our today's forecast on EURNZD.
Our analysis is based on current fundamental situation.
According to our drawing EURNZD is trading within a support.
Based on our analysis the price will go higher
to the underlined supply zone.
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EUR/NZD Long Position IdeaAfter a long fall, the price is at the support line of 1.64. This line was formed back in 2019! It has been around since the very beginning of the chart. Of course, there have been breakouts over the years, but the strength of the line has stopped the fall many times.
I expect that the price will stop falling and start to grow. This is a very strong position to open a buy trade! I will never tire of reminding you of the importance of SL. Look for it traders:)
EURNZD open a long-term buyLet's get back to this pair.
The last forecast was in early December and it came true.
In August 2020, the price dropped from the resistance at 1.818.
At the end of January 2021, it came to the support zone of 1.663.
This zone consists of the 2015 support + line.
The price started to rise in February.
From the support zone, the price began to rise.
Open a long-term buy.
SL - 1.601.
TP - 1.823.
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LONG EUR/NZD.LONG EUR/NZD, ***IF there is a clear rejection around the current level, wich is on the 1,66500 monthly key level (psychological level) and it is also on the -27,20% level of the fibonacci taken on the weekly timeframe. There is a divergence in the market (pink lines on the chart and on the RSI), wich suggests a possible move to the upside. IMPORTANT : I am only showing an analysis on one of the many timeframes that I use.