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Eurnzdsetup

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
Elliot Wave Analysis: EURNZD Setup UpdateEURNZD 4 hourly chart above shows a sharp decline that can be seen as a five-wave impulse pattern, labeled i-ii-iii-iv-v. According to the theory, impulses show the direction of the larger trend. In other words, once the current corrective recovery that's unfolding as a "w-x-y" double zigzag ended, traders should expect more weakness to follow. - The breach of the green line will confirm the correction is completed. - Targets below wave (a) low is plausible the week ahead What's your thought on EURNZD? Let me know in the comment.
Short
by Veejahbee
4
EURNZD, 2hr timeframe, sell on zone retest Hello my friends, Another interesting setup for today is EURNZD. Price made a double top previously and go down for 110 pips since it broken through the support. This support now turned into resistance and price currently retesting it. EURNZD also has broken below the trend line, so I could say the short term trend is now bearish. Sell EURNZD 1.8055 Stop loss 1.8120 Take profit 1 @1.7950 Take profit 2 @1.7880 RR ratio is 1 : 2.5 Risk only 1-2% of your equity Move stop loss to entry once it hit TP1 Good Luck
Short
by HayatoDragonFX
EURNZD, REVERSAL ON SIGHT!**ENG** - If price breaks bellow our demand level (black line), we would like to see a drop till the 1.7300 zone and then look for a possible reversal to the upside, with the first target being the 1.7350 zone. **PT** - Preço a quebrar a nossa zona de procura (linha preta), se de facto tivermos a quebra, o melhor seria aguardar por um toque na zona dos 1.7300 e aí sim procurar por um reversal para cima, o primeiro target nesse caso seria os 1.7350.
by Wevesting