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Eurnzdshort

EURNZD to breakdown?EURNZD - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. An Evening Doji Star formation has been posted at the high. A break of bespoke support at 1.8000, and the move lower is already underway. Daily signals for sentiment are at overbought extremes. A higher correction is expected. We look to Sell a break of 1.7999 (stop at 1.8049) Our profit targets will be 1.7879 and 1.7859 Resistance: 1.8072 / 1.8099 / 1.8130 Support: 1.8000 / 1.7950 / 1.7900 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
EURNZD I Impulse correction phase short opportunityWelcome back! Let me know your thoughts in the comments! ** EURNZD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
2
EUR/NZD SHORT from 1.7580We have an M-Top formation at an area of resistance and over the last few hours this overbought pair has been unwinding. The neckline of the M-Top has been broken and the MACD crossed south some hours ago and although there are headwinds that may hold up EUR/NZD BEARS, the technicals suggest that we should be headed for 1.7534 as a minimun initial target. On H4 we can see that the 200 EMA has been a formidable barrier to EURNZD BULLS and this level has been tested 3 times and prevented price from moving higher. The RSI on H4 was also o.b. but this is now reading 61 and dropping. The Andean Oscillator sees the green BUY line heading south over the signal line and the red SELL line is rising. This looks like a certain move south but the concern would be the 50 EMA 100 EMA and 200 EMA on H1 all of which now stand in the way of the BEARS. This trade will have to be closely observed and if it looks like EUR/NZ BULLS are getting a second win then the position will have to be closed. STOP currently is at 43 pips (1.7621) which is the recent high. This is a hard STOP so if we move back north this trade will have to be closed. Target is initially 1.7535 but if price makes its way down there then the position would have to be re-evaluated.
by forextraplaces
Analyzing EUR/NZD: Sell Opportunity on the Horizon In the realm of forex trading, seizing the right opportunities is crucial for success. Today, let's delve into the EUR/NZD pair, examining recent conditions and potential avenues for profit. External liquidity has been a significant factor influencing market dynamics lately, and its impact on EUR/NZD cannot be overlooked. With the recent shift in external liquidity conditions, a unique scenario has emerged, creating a favorable setup for traders. The concept of SIBI (Sell in Buyable, Ignore in Sellable) comes into play here. This principle suggests selling when external liquidity is withdrawn, indicating potential downward pressure on the currency pair. In such situations, it's prudent to adopt a short-selling strategy. Currently, I'm inclined towards a bearish outlook on EUR/NZD. Several factors contribute to this sentiment: 1. **External Liquidity Conditions**: As mentioned, the withdrawal of external liquidity serves as a catalyst for downward movement. Traders should monitor this closely and act accordingly. 2. **Technical Analysis**: Analyzing the charts reveals patterns and trends that support a bearish stance. Key indicators such as moving averages, RSI, and MACD may signal an impending downtrend. 3. **Fundamental Factors**: Consider the fundamental landscape, including economic data, central bank policies, and geopolitical events. Any developments favoring the New Zealand dollar over the Euro could further tilt the balance in favor of selling EUR/NZD. In light of these factors, it's essential to approach the market with a clear and disciplined strategy. Here's how to capitalize on the sell opportunity while keeping risks in check: 1. **Short Entry**: Look for an optimal entry point to initiate a short position on EUR/NZD. This could coincide with technical signals or fundamental developments aligning with the bearish bias. 2. **Risk Management**: Implement robust risk management practices to mitigate potential losses. Set stop-loss orders at strategic levels to limit downside exposure while allowing room for market fluctuations. 3. **Profit Targets**: Identify profit targets based on key support levels or technical indicators. Consider scaling out of positions as the trade progresses to lock in gains and minimize risk. 4. **Monitoring and Adjustments**: Stay vigilant and adapt to evolving market conditions. Continuously monitor external factors and adjust your trading strategy accordingly to optimize outcomes. In conclusion, the current environment presents a compelling opportunity to sell EUR/NZD. By adhering to a structured approach and leveraging market insights, traders can position themselves for success in the forex market. Remember, discipline and patience are key virtues in navigating the complexities of currency trading.
Short
by Asif_Brain_Waves
EURNZD to continue in the downward move?EURNZD - Intraday Our bespoke support of 1.7511 has been clearly broken. Previous support at 1.7520 now becomes resistance. Our short term bias remains negative. 20 4hour EMA is at 1.7493. Our outlook is bearish. We look to Sell at 1.7495 (stop at 1.7547) Our profit targets will be 1.7365 and 1.7335 Resistance: 1.7485 / 1.7530 / 1.7570 Support: 1.7440 / 1.7400 / 1.7350 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