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Eurnzdsetup

EURNZD Is Drawing a Pattern That Should Scare the BullsThe Daily chart reveals something that should make the bulls feel uncomfortable. It shows that EURNZD’s massive decline from October 2018 high at 1.79337 to December 2018 low at 1.63279 took the shape of a textbook five-wave impulse. The pattern is labeled 1-2-3-4-5. EURNZD Bears Remain in Control According to the theory, the impulses point in the direction of the larger sequence, and a three-wave recovery in the opposite direction follows every impulse pattern. This means that once the corresponding A-B-C expanding flat correction in wave (B) is over, another decline in wave (C) can be expected. The resistance area around 61.8% Fibonacci level and the blue box zone is where a bearish reversal is likely to occur. However, even if the bulls manage to lift the price of EURNZD higher, the bearish outlook remains valid as long as the high/starting point of wave (A) at 1.79337 is intact. If this count is correct, traders should not put too much trust in EURNZD bulls right now and start to take profit in the blue box, especially given that wave (C)’s targets lie below wave (A) low at 1.63279. Did you like this analysis? Kindly let me know in the comment.
Short
by Veejahbee
8
EURNZDon a daily in comments this has a big drop as very clear motive wave and perfect school correction. now that move downwards the way that is moving in those parallels seems that is printing a diagonal. so since it is a beginning after a correction im expecting a motive wave, and in those parallels that last drop its too big for anything else to be considered except leading diagonal. also that blue line looks like strong resistance which several times price bounced of it and now we r touching it with exhaustion in oscillating indicators and in overbought position. also that last touch on MA's 100 and 200 where they crossed aka dead cross, resulted with big drop and now we r again touching MA100 and looks like its gonna reject it again. this is for educational purposes so mind ur lot size! :)
by sharing_is_caring
EURNZD MAJOR BREAKOUTEURNZD was travelling in a blue triangle, but as you know from our previous trades, price broke out to the downside, came back to retest the triangle at the 0.618 retracement level before making its way much lower then the previous support zone. Price is now travelling in a descending channel and has touched the bottom after a large impulse move down, we expect price to come up to the 0.618 and then back down to the -1.27 extension level.
Short
by UnknownUnicorn2396129
EURNZD Enters the Final Stage of Consolidation Before Falling1. Quite interesting currency movements because it will fall on the W1 time-frame and at the time-frame has formed a volume divergence -------------------------------------------------- -------------------------------------------------- ---- 2. EURNZD will again test the Fibonacci retracement level before going up, so pay close attention to price movements -------------------------------------------------- -------------------------------------------------- ---- 3. The pair will enter consolidation at least to the level of 0.618 or maybe lower to the level of 0.5 or 0.3 Fibonacci retracement -------------------------------------------------- -------------------------------------------------- ---- 4. Stop out price level which is at the level of 1.6530 -------------------------------------------------- -------------------------------------------------- ---- 5. The target price is at the price level of 1.6800 -------------------------------------------------- -------------------------------------------------- - ############################## Conclusion : Signal Strength >>> $$$$$ Recommendation : Buy Limit >>>>> Very Strong ############################## ----- This writing is purely for education and does not imply buying or selling ----
Short
by VolumeWaveFX