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Eurnzdbuy

New York Watchlist: Buying EURZD & Selling the DAXOk so the NEw York session is in full swing and I took EURNZD buy for this one... have a small profit already. Below are the details of the trade! ENTRY 1.68910 TP 1.69465 with a chance of rising it to 1.69725. SL 1.68560 Here we have a contraction leading to a support level, the support levels were tested x3 times in the last 24 hours or so and we are now breakout out of the trendline resistance. The RR is not excellent, just 1.5 at the first TP which is the 100% of the pattern while if we get signs to target 120% then the RR becomes 2.25 which makes sense... either or the move can happen throughout the day. While recording this I saw that the DAX completed its contraction which might be the right shoulder of a head and shoulders pattern! Enjoy!
OANDA:DE30EURLong
by PrimedGroup
EURNZD Market Outlook | Daily Forex Market BreakdownEURNZD Looking at EN now still pushing down because of NZD strength. Our previous short from about 9 weeks ago is now +1000 pips. I hope you learned how powerful taking partial profits while trailing your stop loss properly can be. This is why I love swing trading, that being said I feel swing trading paired with taking intraday set ups is even better. I do believe that EURNZD is over extended and I believe that we should be slowing down soon. Although I think we may even come all the way down to retest 1.65 before that happens. Keeping a very close watch on this pair, after such a colossal push to the downside I am anticipating a retracement should occur within the near future. Still going to wait patiently there has been no true signs of a reversal just yet. I feel we are going to push lower to 1.65 and if we reject hard of that support we could pull back to 1.70 and maybe even higher.
by Layne_LV
EURNZD Market Outlook | Daily Forex Market BreakdownEURNZD HAPPY HOLIDAYS! Not much movement at all today which is to be expected. I do believe we could be bottoming out soon. It is still too early to tell. Again this is why swing trading is so powerful, from our previous EN short we are now nearly +1000 pips on a single trade. Swing trading paired with intraday hedging can increase your profits substantially. If I see any changes in the current market conditions I will update you all as always! Again happy holidays remember to spend time with loved ones doing what you love to do!
by Layne_LV