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Eurnzdforecast

Are You Ready to Capitalize on the 1.822 Resistance Level?Examining the Monthly and Weekly charts, it's clear that this pair is on the verge of some critical areas on the higher timeframes – an exciting potential for spotting favorable selling opportunities. The first hotspot revolves around the Monthly resistance area at 1.822. Remarkably, just yesterday, the price came incredibly close to tapping this level. It's intriguing to consider if this might have been a clever stop-hunting maneuver, especially considering the price's swift pop above the previous resistance at 1.80500, followed by a prompt sell-off. To visualize this, take a glance at the image below This could well be the turning point for a more pronounced correction, though I'd certainly wait for confirmation. It's worth noting that the price has managed to stay perched above the 1.805 level, hinting at the possibility of an upward thrust, even aiming above 1.82. Explore this perspective in the image below Personally, my optimal approach involves patiently awaiting a price climb to 1.82, then making use of my TRFX indicator. I'd only dive into the trade once the Daily chart signals align with my strategy. Additionally, I'll be keen to spot any potential Daily signals within the present levels. As for potential targets in this trade, my sights are set on the former swing high resistance, now transformed into support, positioned at 1.75. This level is poised to attract considerable buying interest and could act as a strategic regrouping point for buyers, potentially fuelling the market's push toward the subsequent resistance region at 1.86. This also signifies the commencement of a Monthly supply/sell zone. Thus, I'm eyeing around 1.75 as my initial profit target, anticipating some sort of buying surge or a wave of profit-taking. If a subsequent response unfolds, wherein sellers regain influence and buyers struggle to secure new highs, there's potential for a more substantial retreat towards the 1.70 territory. This aligns perfectly with a Monthly demand/buy area. See a chart visual below I realize my posts might be a bit exhaustive, but dissecting my chart observations is my way of refining my trade ideas. Hopefully, this account proves both enlightening and insightful. Happy reading and trading!
Short
by TheFxAce
12
EURNZD I Bearish divergence and wick failureWelcome 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
22
EURNZD LONG TERM SELLING IDEAHello Traders In This Chart EURNZD DAILY Forex Forecast By FOREX PLANET today EURNZD analysis 👆 🟢This Chart includes_ (EURNZD market update) 🟢What is The Next Opportunity on EURNZD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
EURNZD I It will fall from the resistance zoneWelcome 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
19
EURNZD Long near correction coming soonEUR/NZD’s rebound this month has lacked strength, just as the cross approaches a stiff hurdle at the early-May high of 1.7835. Chances are that EUR/NZD could settle in a 1.7150-1.7850 range in the near term. This follows a retreat in April from the top of a rising channel since 2015. Any break above immediate support at Tuesday’s low of 1.7570 would raise the odds of the range view. RSI above 50 increasing bullish momentum: Pullback possible. Data from Eurostat revealed that the euro zone economy entered into a technical recession as recently as Q1, although only just. Q4 data was revised from a 0 quarterly growth to a 0.1% contraction while the third estimate of Q1 went from 0.1% growth to a 0.1% contraction. Deteriorating economic conditions considered alongside encouraging core inflation data suggest that the euro could come under more pressure despite the ECB adamant on further rate hikes. Markets anticipate the ECB will hike next week and again in either July or September but if subsequent inflation data heads lower, a case could be made that the committee consider a pause or even a ‘skip’ like the Fed is likely to implement.
Long
by DaveBrascoFX
2
20 Reasons For Buy EURNZD🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: The market has formed a bearish structure with a valid low. There is no significant area of imbalance or point of interest where price can touch and reverse. Upon closer examination, there are only two significant bullish candles in this range, both with high volumes. Despite the bearish structure, there have been no significant downside moves, indicating profit booking and institutional buying in this area. There is only one spike indicating a liquidity grab, followed by an inability to sustain downward momentum. In 2022, prices made a 5-year low and closed with a doji. Since the start of 2023, prices have exhibited consistent bullish strength, breaking the highs of the last two years. This provides a clear bullish picture. 2:📆Monthly: After a valid bullish BOS, the market entered a corrective phase where it absorbed liquidity and formed internal bullish structures. The monthly trend line is now approaching, and a break above this trend line would confirm the bullish trend. However, it is likely that price may undergo a small consolidation before the breakout. 3:📅Weekly: A clean and complete bullish structure is visible here, with a proper BOS. The market now has a clear view, and it is highly probable that price will continue to move higher after forming a valid high. There was an inducement at one point, followed by a quick bullish move, indicating active buying in this area to protect these levels. For now, it is recommended to trade within the weekly range until a breakout occurs, at which point new entries can be considered. 4:🕛Daily: The market has formed a proper bullish structure, and the corrective move has been completed. It is now suitable to initiate buy positions as everything is confirming the bullish outlook. Notably, during the recent corrective move, there was significant volume in the bullish candle, signaling a buy opportunity. 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bullish 6: 2 Pattern Candle Chart: Momentum candle 7: 3 Volume: High volume at the low, but the candle is bullish 8: 4 Momentum UNCONVENTIONAL RSI: Sideways for now, but the initial move has started with a divergence 9: 5 Volatility measure Bollinger Bands: No volatility yet, indicating calm before a potential storm 10: 6 Strength ADX: Bulls are gaining strength 11: 7 Sentiment ROC: EUR is strong ✔️ Entry Time Frame: H1 12: Entry TF Structure: Bullish 13: Entry Move: Impulsive 14: Support Resistance Base: Previous order block 15: FIB: Trendline support ☑️ Final comments: Buy 16: 💡Decision: Buy 17: 🚀Entry: 1.7703 18: ✋Stop Loss: 1.7575 19: 🎯Take Profit: 1.7990 20: 😊Risk to Reward Ratio: 1:2 🕛 Expected Duration: 10 days.
Long
by Optimum369
2