Eurnzdforecast
EURNZD: Price Action For More Short MomentumWelcome traders, to this new trading idea!
We are looking at the EURNZD pair on the daily chart right now. Last week we saw a trend reversal with a massive bearish momentum to the down side.
As we look on a higher timeframe, we expect the new trend to establish and look for a potential reversal to enter this trade.
A potential entry point for this short is 1.71350, where we marked the arrow. After that with a confirmation we will be entering an order.
We will keep you guys updated in the comment section how the pair moves and when we enter a trade.
Wishing everyone a great week and happy profits!
EURNZD DThe pair has rallied to the 50 fib retracement that also was the 50MA on D. Although the pair went above the resistance ( yellow line ), it closed the day below it printing an inverse hammer. All that makes me think that the pair is ready to continue its downtrade probably to the 1.673 area and maybe even lower to the 1.6625 area.
On the 4H chart we can see how the pair has also broken the weak recovery rally trendline.
EURNZD DThe pair has reached an area of resistance and looms ready to continue its downtrend. We see the formation of a Doji/Hammer candlestick yesterday. The next area of support is the 1.673 area.
If we look at the 2H timeframe (or 4H but it looks more clear in 2H) we see how the pair has broken the trendline of a very weak recovery right at the resistance area.
EURNZD approaching support, potential for a bounce!
EURNZD is expected to drop to 1st support at 1.66912 where it could potentially react off and up to 1st resistance at 1.68917.
*Disclaimer.*
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EURNZD LOOKING GOOD FOR A BULLISH EXTENSION I previously marked up EURNZD with a bullish prospective ( i have attached the previous mark ups). Price recently broke out bullish after respecting support.
Price is currently moving bearish into what i would see as a retracement. So price has the potential to reach the support i have marked at the grey price line which is also our entry and move bullish again.
Entry - Grey line
Stop loss - Red line
Take profit - Green line
Happy trading all
EURNZD TO KEEP GOING LONG I previously did a daily mark up on this pair and in my opinion, this pair is bullish. I have attached the daily mark up on below. We may see price retrace to the price level i have marked with the grey horizontal line and then move toward our take profit (green line). We also have bullish divergence forming.
I would recommend only risking 1% on this trade.
Stop loss - Red line
Take profit - Green line
Happy trading.
EURNZD shortHi traders,
this is my view on EURNZD.
After a doubletop and the RSI divergence we can go short for a good swing trade.
I´m already in this trade but it´s not to late to enjoy this easy pips.
My first target is 1.69 and the very optismistic target is over a long tim 1.66.
I wish you a good trading week.
Your Stefan Forex
EURNZD 30 min Harmonic BAT Analysis and StrategyThis pair is currently trading at a major resistance zone and we are predicting the harmonic Bat Pattern will be completed. This is a bearish signal and our strategy is to trade the 4th leg of the pattern. Price action has already broken below the yellow trend line giving our strategy confirmation. FX:EURNZD