Eurnzdanalysis
EURNZD | Perspective for the new weekThe appearance of multiple rejections at the 1.576 area coupled with a temporary breakout of the key level at 1.582 makes this zone a strong demand level. It is appropriate we remain patient as we look forward to a rejection of the key level for confirmation.
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EURNZD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURNZD LONG - Buy Entry - H4 ChartEURNZD LONG - Buy Entry - H4 Chart
Buy @ Market
Symbol: EURNZD
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
PP Y1 @ 1.6612 - TP - Resistance @ 1.66070
PP Y1 - Pivot Point Yearly @ 1.6612
TP - BE - Resistance @ 1.63006
W! Support @ 1.59604
MN Support @ 1.569415
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EURNZD | Support on Fib LevelEURNZD has given a reversal from 1.56400 level and move more than 600 pips from there. The pair has been retracing to fib level 0.382. We are expecting bulls will take charge from there and push the price to 1.64000 initially.
Alternatively, the bears will be active if it manages to break the support zone and trade below it.
Trade your levels accordingly.
EURNZD - Buy Entry - H4 ChartEURNZD - Buy Entry - H4 Chart
Buy @ Market
Symbol: EURNZD
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
TP - Resistance @ 1.66070 - Yearly Pivot Point @ 1.6612
TP - BE - Resistance @ 1.63887
Support @ 1.59604
EURNZD LONG - Buy Entry - H4 ChartEURNZD LONG - Buy Entry - H4 Chart
Buy @ Market
Symbol: EURNZD
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
Major Resistance @ 1.66070
Major Resistance @ 1.64134
Major Support @ 1.599746
Major Support @ 1.569415
EUR/NZD - SellWeekly:
1. Impulse
2. Brake of previous support
When I add fibonacci I see the price is not touch 38.2% yet for correction. Let's see what we have on lower timeframe.
Daily:
1. Impulse
2. Correction
3. Engulfing candle from 38.2% Fibonacci level
Looks very, very bearish and maybe will not see deeper correction to the monthly resistance.
4H:
1. Impulse
2. Correction
3. 3rd touch of trendline
4. Many engulfing candles
Looks nice for short from this level right now.
eur/nzd looking to collapse here we can see a nice uptrend that was broken on the lower time frame and the we have a Re-test of the breakdown and now looking good to get in with other confirmations i'm seeing we've also closed below a bullish ob that i was interested in!! Looking overall like its going to be a decent set up here
EURNZD LONG OPPORTUNITYMarket Structure is KING!
Hey, if you like this idea be sure to support with a like and a follow.
Here is my analysis for EURNZD for the upcoming week, wait for price to pullback to retest resistance and take a short down to the next DEMAND area than look to go long.
What are your thoughts? Leave it in the comments below!
Blue Signal FX Rules-Based Trading
1. CHECK THE NEWS!
2. WHAT IS THE OVERALL TREND? Market structure will give you direction.
3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE.
6. CHECK FOR DIVERGENCE.
EURNZD create bullish patternEURNZD create strong bullish divergence in 4hrs. On the other hand in daily its now at over sold with hidden bullish divergence; So i anticipated EN will bullish!
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
EUR/NZD Sell Opportunity: Breaks Below Trendline Support This week on Tuesday, EUR/NZD dropped below the long-term trendline support ahead of RBNZ rate decision and monetary policy.
RBNZ expects a rise official cash rate from 0.75% to 1.00%. Despite a sharp downside in the global equity space on further escalating military tensions between Ukrainian and pro-Russia separatist/Russia forces and continued Russia/NATO tensions in the background, EUR/NZD has dropped below the critical trendline resistance level and creates a selling opportunity.
From the current zone, 1.6950 was the trendline support zone. Now it has become a trendline resistance. So, as long as EUR/NZD is below the trendline support, it still has chances to drop further.
The market expects RBNZ to rise 50BPS though RBNZ forecasted only 25 BP. Any surprise rate hike like 50BP or more will Send EUR/NZD 1.6500 price zone or more.
From the present rate, immediate support is identified is at the 1.6840 price zone. Breaking below 1.6840, our final target to the downside is 1.6500.