Divergence signals and buying opportunities with EURNZDH4 time frame.
Structure: Downtrend.
A divergence signal and a double bottom reversal pattern appeared at the support area of 1.61000.
The current price tends to break the Key level at 1.63500.
Waiting for the price to clearly break the Key level and appear a retest signal can find buying opportunities.
Profit target is 1.66000 price zone.
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Wish you all have a good trading day!
Eurnzdlong
💡Don't miss the great buy opportunity in EURNZDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.6201).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURNZD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 1.6350
TP2= @ 1.6525
TP3= @ 1.6643
TP4= @ 1.6759
TP5= @ 1.6851
SL= Break below S2
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💡Don't miss the great buy opportunity in EURNZDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.6201).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURNZD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 1.6350
TP2= @ 1.6525
TP3= @ 1.6643
TP4= @ 1.6759
TP5= @ 1.6851
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Outlook on EURNZD: Bullish play seenOn the weekly time frame, prices tapped into the demand zone where we could see a pullback in prices. On the H4 time frame, we are seeing bullish order flow with prices failing to form lower lows. Currently, prices are testing a key resistance at 1.63152 and a break above this level could see prices push higher to the next resistance target at 1.65311, in line with the 50% fibonacci retracement. EMA and Ichimoku cloud are showing signs of bullish pressure as well supporting our bullish bias.
EURNZD Buy a break setup.EURNZD - Intraday - We look to Buy a break of 1.6331 (stop at 1.6301)
The trend of lower highs is located at 1.6330.
A break of bespoke resistance at 1.6330, and the move higher is already underway.
We are trading at oversold extremes.
Short term momentum is bullish.
Our profit targets will be 1.6421 and 1.6441
Resistance: 1.6300 / 1.6330 / 1.6370
Support: 1.6280 / 1.6240 / 1.6200
A divergence signal appeared with EURNZDH4 time frame.
Structure: Downtrend.
Divergence signal appeared and Key level at 1.63000 was broken.
Wait for the price to complete the head and shoulders reversal pattern and have a retest to confirm the breakout, then you can find buying opportunities.
The profit target is the 1.65500 price zone.
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Wish you all have a good trading day!
eurnzdEURNZD - LONG
Why are we entering?
- Price created an impulse and is in a correction
- Expecting NZD Weakness and EUR strength = EURNZD LONG.
What are we waiting for to happen?
- bounce off the bull flag support
- If we don't get a bounce there, look for the double bottom
- Break of WFB trendline
What is our confirmation?
- Bounce off one of the levels mentioned
- break of WFB trendline
Entry
SAFE Entry: Bounce of structure and then WFB
Risk Entry: Bounce off bull flag/double bottom
Once entered, where will our Stoploss be?
- Below the area where price bounces off
Where do we take profits?
- First TP: 1.653
- Second TP: 1.69
- Third TP: 1.71
EUR/NZD long ideaHi traders,
For today I analysed EURNZD pair. Currently they bounced from multiyears low and I think that is going to test 1.6300 area by the end of week.
Daily RSI is on 37 lvl, and weekly RSI is on 34 lvl.
Also today we have labour reports from NZD (expected lower that previous).
Feel free to comment your opinion !