Eurnzd4hr
EURNZD ShortGuys in trading to get that bigger picture you have to see the monthly candle closer, and if you can see the monthly closer on EURNZD you can see that is a 3 pin bar ( Evening Star potential further upside for the coming month)
If we see Weekly we can see that we have a rejection from 1.7605 ( Daily multiple rejection).
If we see Daily we have a morning star confirmation, so what next?
My bias for the upcoming week for EURNZD is bearish. Why entry 1.7486? because the TL was broken and you can see that
it's a possible Head and Shoulder 4h , so wait to retest that TL and also to hit 50% FIB.
First target: 1.7321(crucial level for the pair).
Second target: 1.7219
EURNZD, A CAUTION SHORT.For EURNZD we are predicting a huge drop, however, we can still move 100 pips to the upside before it happens, the best way to enter here is to be super carefull and wait for an impulsive candle breaking our trendline + one more candle to confirm the downside movement, its better to sacrifice 20/30 pips instead of entering before the time and end up getting an SL.
Best of lucks,
GlobalYouthTrading
EUR NZD Long off 1.67000After a major drop on EN, we can see price bottoming out. I favor an upside move before potentially continuing further down. However, a break and Daily close above our TP2 could see this pair move further up to the 1.70500 range. For now, I hold onto my corrective bias. @earnwithwern
EUR/NZD - 300 Pips ShortA potential big drop is currently imminent on EUR/NZD.
*Important: To enter this move, wait for the breakout of 1.77 and the resistence under it. If it does not break this level, then this trade is invalid.
Once broken and the resistence found underneath it, it can go anywere near 1.74
Trade safe.
EURNZD Sell SetupEUR/NZD testing the downtrend line and seems like the upside is limited and a possible correction is setting up. Short term momentum indicators support the view as well. If it forms a linear compression here, i'd recommend to look for sell setups for a target to 1.7100 or so.
Happy Trading.
EURNZD 4H Re-Entry OpportunityFor those of you who missed the initial entry on the EURNZD 4H chart (after the trend line break), will now have a second chance to enter.
We are hovering over a strong flipzone that needs to be broken first with a high momentum bearish candle in order to enter. Do not do mid-candle decisions, wait for a clear break and be patient.
Short EURNZD Longterm Based on Weekly + 1D Charts for 400+ Pips!Our current EURNZD short is going perfectly as expected. I would like to close the gap on the current short but there are yet a few major supports to break through and I believe a pull back to a previous major support/resistance will be necessary. Therefore, this opens up the potential to a secondary short trade to take this down further.
The 1W chart shows momentum to buy is diminishing as the volume is now decreasing and we can expect a further push down next later next week.
A very simple and clean setup with entry on pullback and a great Risk:Reward ratio.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
My 1st Trade Idea: Buy EURNZD Based on 4H + 1D ChartsNote: My charts are usually very messy, so I've re-done it and removed a lot of unnecessary indicators etc so you get the overall idea.
1D chart shows a nice clean uptrend on the EURNZD consisting of HL and HH, 4H chart confirms the last candle closed on the EMA200 line, which is also the lower channel of the uptrend (conservative entry would be waiting for a bullish 4H candle). The 1H chart also shows a bullish hammer is completed.
Please do your own analysis, this is just my opinion of a possible trade entry I am considering.
1.57690 is a major support=resistance which is the exact position price was rejected and formed hammer pattern in 1H chart. However, we are still below 1.5800 which is also another major support=resistance - one could say, this is a support/resistance channel which we must break above to confirm continuation of bullish movement.
Please share your views and opinions below :)
Elliott wave analysis of EUR/NZD for May 30, 2017 We continue to look for a spike lower to 1.1.5537 to complete the expanded flat correction in wave ii/ and turning prices higher in wave iii/ to above 1.6237 for a continuation higher to 1.6655. Only a direct break above minor resistance, seen at 1.6006, will indicate that a running flat has been unfolding and wave ii/ completed early.
R3: 1.6080 R2: 1.6006 R1: 1.5847 Pivot: 1.5800 S1: 1.5734 S2: 1.5660 S3: 1.5537
Trading recommendation: We are looking for re-buy EUR at 1.5550 or upon a break above 1.5985.