EURNZD- Short from 50% Fibonacci, Key Resistance and TrendlineEURNZD is keenly approaching my Entry zone that lays at the 50% Fibonacci aligned with my key zone and the well respected Trendline. Upon the retest of these Technicals i'm going to go short. Tomorrow there is an interest rate decision coming from the ECB (European Central Bank) at 12.45 GMT, meaning you may want to be careful entering and maybe await a higher push to the upside before entering as it may wickfish early sellers. As the BOE and Fed cut interest rates this foreshadows the same to potentially occur with the ECB.
Eurnzdsell
swing opportunity EURNZD at ressistance level 1.178eurnzd rejected at an important level (1.78) and is almost ended with a nice bearish candle. with a recovering AJ/AU, we can expect a bearish euraud and eurnzd. the reversal of the US30 shows us the sign that the market is reversing from the last horrifying week.
EURNZD Strong SELLAfter the big rise, the value needs a retest before continue increasing, so we expect this fall arrive at least to the KL with the possibility that the value do a retest in the downtrend to climb stronger, be focused in this value because the entry could be very interesting and in not too much !!
Panic and fear propels EURNZD to new highs, Sell HigherDramatic sell-off in Wall Street has led to a sharp decline in the value of risk assets such as AUD, NZD and CAD.
However, we can uncover potential opportunities amidst this panic environment.
EURNZD is already up by over 800 pips in the last 10 days and it is expected to continue its uptrend a little more.
However, soon it will face stiff resistance as I have indicated in my chart.
So, smart traders will place sell limits in the resistance area at 1.7910-1.7980 with SL above the resistance area.
If the sell set-up is valid, we can take profit at 1.67 area
EURNZD in the wick-area for some multiple touches hello traders, we see that the level 1.72000 has some good history with multiple supports and resistances. The price rejected the 1.72000 and came back to touch it again. personally, I expect some choppy level around this area with multiple touches at the area before making a bearish movement.
shortterm: long
longterm: short