Pullback Short Setup-Respectable descending TL, retest expected
-0.5 fib retracement
-Previous support area now acting as resistance
-MA50 supporting the bearish momentum very well, expecting price to continue its trend downwards!
Eurnzdshort
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 on Trendline Retest | Pullback Setup-Broken ascending TL, retest expected
-0.618 fib retracement
-Minor S&R area
-Descending TL
-MA50 momentum shift
EURNZD Bear FlagAfter price broke out impulsively at the ascending channel pattern, it formed a bear flag pattern which is looking to test the 61.8% Fibonacci Level. Expecting a completion of the wave E before completely reversing to the downside.
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 EURNZD-The price has formed the second swing of the descending channel.
-Price is reversing from the 3rd swing of the rising wage.
Cons: Descending structure is a bullish signal in the long-term.
EURNZD - Ready for Lift OffThe inverse head and shoulders pattern has completed, we are now waiting for a confirmed close above followed by a pullback/re-test before getting involved in our long position.
MINDSET training!As we can see on Friday bears made a big push through strong support, i want to see price push back up and re test this area as resistance before pushing down even further. There are around 600 pips between my 2 areas so this would make for a lovely swing trade.
Simple setup that most people wont see as there minds wont let them accept this is a good setup as it is too EASY, if you want to succeed in the markets you need to change your mindset! I have some FREE mindset things i can send you.
Just send me a message if you are interested in knowing more about trading, mindset or anything really.
EURNZD selling opportunityAfter reaching the 52 week high of 1.8224 AUDNZD is in clear downtrend and it's it is also make some head and shoulder pattern which is clear sign of bearish is territory
At around 1.77340 we had a bearish flag it's further accelerate the downfall of EURNZD
And major resistance was broken and the resistance turned as support for the downfall
the primary target would be 1.74180 and the next target would be 1.72700
EURNZD - Inverse H&SPotential inverse head and shoulders pattern forming here, let's see what happens next week.
According to COT data source - 63% long
EURNZD - RangeLet's wait and see how price reacts after breaking the small ranging zone, I have illustrated this pairs next potential moves.
EURNZD NEW ANALYSIS!Hi Traders, here is the full NEW Analysis / Breakdown for EURNZD.
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EURNZD - Using StructureWe are keeping a close eye on this pair if we manage to break the respected structure then we can look to buy from the re-test as illustrated.
According to COT data source - 79% long
EUR/NZD New Update +530 Pips EUR/NZD New Update +530 Pips
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
