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Eurnzdidea

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 short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **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
Short
by GWBFX
EURNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **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
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 long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **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
2
EURNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 48 - Nov 23 M > Market is moving in a rising wedge with few major breakouts. Price faced rejection at monthly resistance and has dropped till monthly support. W > Price has filled in last weekly candle with current drop and created double bottom. We can see two M formations and their neck can be our bullish target. D > Price dropped till weekly support and moved upwards after rejection, last week price dropped to test support again and ended the week with rejection. We can see bullish divergence. As per COT EUR saw addition of both Long and Short, reducing net positions further. EXY weakened during the said period however it slightly recovered last week. NZD further added both Long and Short improving net positions to max for the year, ZXY has been gaining strength for past 3 weeks, it is now testing a major resistance level. Institutions, since August, have been reducing their EUR portfolio of Long and increasing Short positions, with about 60K Long positions closed and 19K short positions opened so far. In long term we can expect weakness of EUR to continue. For NZD we can expect some correction to the downside this week. 4H > Price has faced rejection at support and has created double bottom. We can also see bullish divergence. However we will wait for reversal confirmation with creation of a HH and next HL will provide a nice entry for Long. Recommendation > Keep a close watch with other NZD pairs as it will be NZD that will drive EURNZD now. Pair Correlation > EURNZD has negative correlation with NZDCHF, NZDUSD, NZDCAD and NZDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
EURNZD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL **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
Short
by GWBFX
EURNZD Roadmapcurrently, we are seeing price testing the 1.8010 resistance level, we have room to go down for +230 pips if the seller manages to push the price to the 1.7775 support level, I will wait for price rejection occur on a lower timeframe before placing any sell order **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 the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
2
EURNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Market is moving in a rising channel. Price tested monthly support, faced rejection and started upward move. W > Price created double bottom at support level. D > We saw an M formation and as expected price moved up to test its neck and complete the formation. While rising up price faced rejection at supply zone but still managed to create HH. After testing our target price reversed, dropped and is moving towards our next target. However for final confirmation of break of bullish trend price must break last LH to create a LL. As per COT EUR saw closure of Long and addition of Short, reducing net positions; improving its position for the said week. EXY further improved its position last week. NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. Overall EUR has huge quantum of net position, since past 2 quarters, with much more open Long positions than Short. This reflects Institution holding their Long positions for bigger gain in time to come, EUR will continue to be strong till the time we see major chunk of Short added for Institutions. 4H > Price is dropping with bearish move, we will monitor price action around test zone. We can expect continuation of bearish move if price breaks this zone and bullish move if price fails to break. Pair Correlation > EURNZD has positive correlation with EURAUD and GBPNZD and negative correlation with NZDCHF and NZDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
1
EURNZDOnce again, market will always leave clues as to what it wants to do, I do not predict the market but my bias would be for a sell position seeing the price action clues on Monthly however before taking a position, I will wait for price to break through some of the identified zones. If on the other hand Price chooses to continue in the bullish run, I will equally wait for it to break through the zone before executing Kindly like and follow for more, thanks Past results does not Guarantee Future Results, do your due diligence. Trade Rules: Use proper risk management When the trade is taken, once in 20 pips profit, breakeven and protect your capital As trade moves, look for fresh entries in line with the position taken
by Mbjoey
EUR/NZD SHORT IDEA Hey tradomaniacs, welcome to new free trade-setup. Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation! EUR/NZD: Daytrade-Preparation Market-Sell: 1,76390 Stop-Loss: 1,76935 Target 1: 1,75870 Target 2: 1,75350 Target 3: 1,74990 Target for One-Target-Trader: 1,75350 Stop-Loss: 54,5 pips Risk: 0,5% - 1% Risk-Reward: 2,60 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
1
EURNZD falling below 1.77000 what is the next level?EURNZD 📍 European central bank hinted that they will accommodate all kind of policy measures to help the economy. And the recent gain of euro will hurt the economic developments as Fed and ECB are eagerly waiting to depreciate their currency against one another. 📍 Positive risk on sentiment will help the New Zealand dollar and the lockdown measures in Auckland was the recent hindrance for the New Zealand dollar. There is no major economic events in this week apart from daily auction prices 📍 Positive vaccine news will boost the New Zealand dollar. In smaller timeframe the price is trading below the 50% Fibonacci and the major price action level 📍 RSI is below 50 level and turned towards south. Expected weekly trading range will be from 1.78000 to 1.73000 📍 After reaching the 1.82000 level which is August high price felled towards 1.74000 which is major psychological level too 📍 Price action level is currently acting as the support for EURNZD. And the golden cross was happened in 50,100,200 EMA 📍 1.77000 is next major psychological level acting as support for the bearish trend. 📍 We can open suitable selling positions from current level. And the potential take profit will be around 1.74000. Coinciding with 78.6% LTF Fibonacci level. Stop lose may place above 1.79750 is a low volume area 📍 Major trend line was broken on 25-Aug on Lower timeframe trend line was also broken 📍 Ichimoku cloud is also acting as a support for the selling of this pair
Short
by forexorbit
3