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Eurnzdforecast

EURNZD uptrend setupprice direction: UPTREND potential target price: 1.7277 **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
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 | Perspective for the new weekThe Bearish Impulse leg (see week chart) that began on the 20th of October 2020 might be calling for a correction move as we experienced a Breakout off NZD1.71500 in the latter part of last week trading session. Tendency: Uptrend ( Bullish ) Structure: Cup and Handle | Supply & Demand Observation: i. The last couple of weeks has experienced the rise of Euro since it found bottom @ NZD1.69500 last month. ii. The Cup and Handle pattern indicated on the chart is considered a strong bullish signal, with the expectation that the formation of the right-hand side of the pattern will be experiencing lower trading volume in the following week(s). iii. It is advisable to be patient with this trade so that we can catch the proposed Bull run at the most appropriate time as the handle forms. iv. Depending on the pattern that evolves in the coming week, the Temporary/Major Demand level are levels to watch out for Buy confirmation signal. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:3.5 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
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