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Eurnzdshort

EURNZD – waiting for bearish PA the week of 26June 2023On the daily chart this pair is still bullish but we do have a lower high. As the H4 chart shows we seem to have formed a double top. Look at the recent PA within the equidistant channel and note how each bullish move is immediately followed by a bearish move of similar strength. IMO, the bulls are running out of steam. It is likely that the battle between the bulls and bears will continue for a short time and we may even see another attempt to break higher. I do believe that a bearish trend formation is likely and will wait for price action evidence to confirm that. The area just above 1.740 looks like a good initial target. Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content. What do you think about this trade idea? Please comment and share your thoughts!!
Short
by Trading_Vista
Will EURNZD bearish presence continue?EURNZD - 24h expiry Our short term bias remains positive. The lack of interest is a concern for bears. A move through 1.7525 will confirm the bearish momentum. The bias is to break to the downside. We look for losses to be extended today. We look to Sell a break of 1.7524 (stop at 1.7584) Our profit targets will be 1.7374 and 1.7354 Resistance: 1.7575 / 1.7600 / 1.7630 Support: 1.7528 / 1.7500 / 1.7470 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
1
EURNZD ____ UNDERSTANDING ORDER BLOCKSHello Trader, Here we have EURNZD which showed bullish strength last week and rallied into a daily order block. This daily order block is meant to cause a reaction in price i.e a reversal or retracement. What are order blocks you may ask: Order blocks in forex are price levels where institutions attempt to buy or sell a foreign exchange pair without potentially having too much of an impact on the pair's price. Once the price enters an order block, It mitigates the orders that were initially placed there and would trigger a bullish or bearish move in price depending on where the price is coming from. Order blocks found on the daily timeframe (as marked on my chart), weekly and monthly timeframes are usually really strong and can cause a reaction in price. As you can see, the price created multiple buy-side liquidity just around the order block to induce early sellers, then liquidated their positions. It has gone deeper into the order block and has changed the structure on the 1-hour timeframe from bullish to bearish as expected. From here, I expect the price to retrace not reverse as higher timeframes such as the weekly and monthly suggest higher prices to come. Follow for more analysis. Cheers, David
Short
by jabariofafrica
1
EURNZD to turnaround?EURNZD - Intraday Short term momentum is bearish. Expect trading to remain mixed and volatile. A break of the recent low at 1.7633 should result in a further move lower. We look for losses to be extended today. Short term oscillators have turned negative. We look to Sell a break of 1.7623 (stop at 1.7683) Our profit targets will be 1.7473 and 1.7443 Resistance: 1.7680 / 1.7730 / 1.7760 Support: 1.7633 / 1.7580 / 1.7500 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA