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Eurnzdbullish

EurNzd has all ingredients for a strong reversalFrom 20 Oct 1.8 high, EurNzd dropped almost linearly 1000 pips. The pair found strong support at 1.7 zone and after a few days of consolidation broke the descending trend line and the first leg of correction come that let the price to 1.7300 zone. Now the pair is correcting this first leg up and a new one could start soon. 1.7 should be very well defended by bulls and my target for EurNzd is 1.75 in the medium term. In the short term, 1.7050 is now support and a break above 1.7150 could accelerate gains to 1.7280 resistance. In my opinion, dips should be bought and only a daily close under 1.70 would negate this scenario
Long
by Mihai_Iacob
6
EurNzd at confluence resistanceThe move from the past 4 weeks on EurNzd was fabulous with the pair sinking 1000 pips from 1.8 to 1.7 Yesterday the pair had a short dive under 1.7 but managed to recover above this important support. At this point, we are just at confluence resistance and a break here could signal a much-needed correction. In my opinion, dips around 1.7 should be bought and a long position in this zone could have a 1:3 R:R if we target the last congestion zone at 1.73
Long
by Mihai_Iacob
8
EurNzd- buy at 1.77 zone?Two days ago, EurNzd put a nice Pin Bar in 1.76 zone visible on the daily chart and, with yesterday's bullish daily candle this completes a morning star candle formation. On h4 chart we can clearly see that the descending trend line is broken and now the pair is consolidating with a slight tent of correction (a flag more or less) 1.77 could be a good place for longs and only a drop under support would change this bullish outlook. 1.8 could be the target for bulls which gives them a R:R of more than 1:2
Long
by Mihai_Iacob