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Eurnzdanalysis

Ain`t no sunshine when the eurozone economy is goneFirst things first: Do you think one has to work for one or two circuses before he can start as a member of the ECB? Anyway as surprised as the ECB may be about the total weakness of the euro economy ( no one could have foreseen it! ) as surprised they will probably be today when the GDP of the eurozone will disappoint the consensus forecast as well as the ECB forecasts. -> EUR GDP will be weaker (0.1 or 0.2) than consensus (0.3) expects it. The German industrial production today will also be weaker than consensus forecasts expects it. Some other total surprising data no one could have expected: The EUR PMIs were horrible this week -> after the manufacturing sector the service sector is now also in contracting territory (unbelievable right?) The German Factory orders yesterday were horrible x10 (as I forecasted) and much weaker than the consensus expected them. (surprised pikachu face) Inflation will fall of a cliff from october onwards as the weakness from the economy will spill over to the consumer (retail sales already signalling it) For a broader forecast look at my EURCAD trade, where I went into more detail about the EUR weakness. If someone knows some good news from the eurozone I`m all ears but so far theres no sunshine when she (the economy) is gone.
Short
by PrimeTrading
10
EURNZD scalping for 70 PIPS READ DESCRIPTIONBased on the technical analysis and market sentiment provided, let's analyze the potential trade setup for EUR/NZD: 1. **Support and Demand Zones**: EUR/NZD is currently at a 2-hour support zone ranging from 1.80000 to 1.80200. This indicates a potential area where buyers are likely to step in, aligning with the demand zone. It suggests a favorable entry point for long positions. 2. **Target and Resistance Levels**: The target for this trade is set at the resistance level of 1.80750. Should the price break above this level, the next significant target is at 1.82000. These levels represent potential areas where sellers might emerge, providing opportunities for profit-taking. 3. **COT Data Analysis**: According to the Commitments of Traders (COT) report for the Euro, there were 182,382 long positions and 134,040 short positions. This indicates that 57.64% of traders were holding long positions, while 42.36% were holding short positions. A higher percentage of long positions suggests bullish sentiment towards the Euro. 4. **Client Sentiments**: Client sentiment data for EUR/NZD shows that 65% of traders are holding long positions, while 35% are holding short positions. This sentiment aligns with the overall bullish bias suggested by the COT data. 5. **Technical Analysis Indicators**: - Stochastic: Indicates a sell signal. - Momentum: Shows a buy signal. - Stochastic RSI: Signals a buy. - William Percent Range: Suggests buying opportunities. - EMA (20 to 200) and SMA (20 to 200): Both moving averages are indicating a buy signal. - Hull Moving Average: Indicates a buy signal. 6. **Trade Distribution**: Out of 10,000 trades analyzed, 7,000 were buy trades, 2,000 were sell trades, and 1,000 were neutral. This distribution suggests a strong preference for buying among traders. In conclusion, considering the confluence of technical indicators, market sentiment, and trade distribution, the overall outlook for EUR/NZD appears bullish. The current support and demand zones provide favorable entry points for long positions, with targets set at resistance levels. However, traders should monitor the stochastic indicator for potential sell signals and remain cautious of any sudden shifts in market sentiment or unexpected events that could impact the trade.
Long
by MOAZAM1133
EURNZD: Second Entry Worth Possible 500 Pips: what do you think?Hey Everyone, EURNZD with our first buying entry that we had posted that turned out to hitting our Take Profit area, now we are expecting the same similar movement. Price has formed AB=CD pattern. In this scenario, price most of the time create a opposite big movement in our case it can give us a nice bullish impulse, helping us to gain 500 pips at least. There are two entries, first one with a greater risk and second entry is much safer, it is up to you which one to take.
Long
by Setupsfx_
20
#EURNZD: First Major Drop and then Swing Buy?FX:EURNZD we have published numbers of chart analysis on eurnzd so far, and most of the time, the analysis has gone out in our favour. In our last chart analysis, we were hoping that price will fill the liquidity gap and then reject at the key level that we had identified, however, price mitigated early. We still think price will come to our key level and then bounce from there. We would recommend to wait for trend to become much clear. Trade Safe and Good Luck. If you like our work then please like and comment.
Long
by Setupsfx_
EURNZD I Impulse, correction, and continuationWelcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
1
#EURNZD:First Two Entries Hit Targets What you think about this?FX:EURNZD first two entries hit our targets successfully, now we are focusing on the third entry, price rejected at the key level, where we think most of the major selling orders were placed. Currently, in our price had left behind big 'liquidity void area' due to that reason. In our view, price is likely to fill those area and then bounce back from our 'third entry'. We are targeting same 300-400 pips this time around too. Which will helps us gathering over 1200 pips from three ideas. Let me know what do you think about EURNZD? Please share your views too.
Long
by Setupsfx_
6
EURNZD I Impulse correction phase short opportunityWelcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
2
EURNZD → Day Analysis | BUY SetupHello Traders, here is the full analysis. Price reversal going up, levels for BUY . ! Great BUY opportunity EURNZD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
EUR/NZD SHORT from 1.7580We have an M-Top formation at an area of resistance and over the last few hours this overbought pair has been unwinding. The neckline of the M-Top has been broken and the MACD crossed south some hours ago and although there are headwinds that may hold up EUR/NZD BEARS, the technicals suggest that we should be headed for 1.7534 as a minimun initial target. On H4 we can see that the 200 EMA has been a formidable barrier to EURNZD BULLS and this level has been tested 3 times and prevented price from moving higher. The RSI on H4 was also o.b. but this is now reading 61 and dropping. The Andean Oscillator sees the green BUY line heading south over the signal line and the red SELL line is rising. This looks like a certain move south but the concern would be the 50 EMA 100 EMA and 200 EMA on H1 all of which now stand in the way of the BEARS. This trade will have to be closely observed and if it looks like EUR/NZ BULLS are getting a second win then the position will have to be closed. STOP currently is at 43 pips (1.7621) which is the recent high. This is a hard STOP so if we move back north this trade will have to be closed. Target is initially 1.7535 but if price makes its way down there then the position would have to be re-evaluated.
by forextraplaces