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Euro / New Zealand Dollar

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EURNZD trade ideas

EUR/NZD-Bullish Opportunity with Harmonic Pattern & RSI Div.This report provides a detailed technical analysis of the EUR/NZD currency pair, emphasizing a Bullish Butterfly Harmonic Pattern forming at a key support area. The analysis is supported by a Bullish RSI Divergence observed on the 4-hour chart, reinforcing our bullish bias. Bullish Butterfly Harmonic Pattern: The EUR/NZD is currently forming a Bullish Butterfly Harmonic Pattern, a reversal pattern signaling a potential bullish trend. This pattern is characterized by precise Fibonacci retracement and extension levels, indicating a potential upward price movement from the current support area. Key Support Area: The pattern is emerging at a significant support zone around 1.76671, which has historically provided strong buying interest. This level is crucial for our entry point, providing a favorable risk-to-reward ratio. Indicator Analysis RSI Divergence: The Relative Strength Index (RSI) on the 4-hour chart shows a bullish divergence, where the price makes lower lows while the RSI makes higher lows. This divergence suggests a weakening bearish momentum and potential bullish reversal. Trade Setup Entry Point: Entry: 1.76671 Stop Loss: Stop Loss: 1.76242 Take Profit Targets: TP-1: 1.77100 TP-2: 1.77529 TP-3: 1.77958 Risk Management: Setting a stop loss at 1.76242 ensures minimal risk exposure if the market moves against our position. The take profit targets are strategically placed to capitalize on the anticipated bullish movement, with each target offering progressively higher potential returns. Conclusion: Based on the formation of the Bullish Butterfly Harmonic Pattern and the Bullish RSI Divergence on the 4-hour chart, EUR/NZD exhibits a strong bullish bias. Traders are advised to enter the market at 1.76671, with a stop loss at 1.76242. The take profit targets of 1.77100, 1.77529, and 1.77958 provide clear exit points to maximize profits. By adhering to this trade setup and risk management strategy, traders can effectively navigate the EUR/NZD market, leveraging technical indicators and patterns to inform their trading decisions.
Long
by trading_jupiter
4
EUR/NZDBullish divergence is a concept used in technical analysis to identify potential buying opportunities in the financial markets. It occurs when the price of an asset is making lower lows, but an indicator (often a momentum oscillator like the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), or stochastic oscillator) is making higher lows. This divergence suggests that the downward momentum is weakening, which could be an early sign of a reversal to the upside. Here's a step-by-step explanation of how to identify and interpret bullish divergence: Identifying Bullish Divergence 1. **Price Action**: Look at the price chart of the asset and identify two or more consecutive lower lows. This indicates that the price is in a downtrend. 2. **Indicator**: Choose a momentum indicator like RSI, MACD, or stochastic oscillator. Plot this indicator on the chart below the price action. 3. **Compare Lows**: Observe the indicator values corresponding to the price lows. If the indicator is making higher lows while the price is making lower lows, this is a bullish divergence. Interpretation - **Weakening Bearish Momentum**: The higher lows in the indicator suggest that the bearish momentum is weakening even though the price is still falling. This can be an early sign that the downtrend may be losing steam. - **Potential Reversal**: Bullish divergence often precedes a reversal or a significant upward movement in price. Traders use this as a signal to prepare for a potential buying opportunity. Example Consider a stock whose price has fallen from $50 to $40, making lower lows. At the same time, the RSI might have fallen from 30 to 25 initially but then risen to 28 on the next lower price low. This higher low in the RSI, coupled with a lower low in the price, forms a bullish divergence. ### Confirmation - **Volume**: Look for an increase in trading volume during the divergence as this can confirm the potential reversal. - **Support Levels**: Check if the price is approaching a known support level, which can strengthen the bullish signal. - **Candlestick Patterns**: Look for bullish candlestick patterns like hammer, engulfing, or doji near the divergence point for additional confirmation. Example Chart To visually illustrate a bullish divergence: 1. **Price Chart**: Plot the asset’s price showing lower lows. 2. **Indicator Chart**: Below the price chart, plot the RSI (or any chosen momentum indicator) showing higher lows. 3. **Highlight Divergence**: Draw lines on both charts to connect the respective lows and highlight the divergence. Practical Tips - **Use Multiple Timeframes**: Confirm the divergence on multiple timeframes to strengthen the validity of the signal. - **Risk Management**: Always use stop-loss orders to manage risk as divergences can sometimes fail, and prices can continue in the original trend direction. - **Combine with Other Indicators**: Use bullish divergence in conjunction with other technical indicators and analysis methods to increase the accuracy of your trades. Understanding and identifying bullish divergence can be a valuable tool in a trader's toolkit, helping to spot potential buying opportunities in the market.
Long
by B9A-88652-NisarAhmad
Potential bullish rise?EUR/NZD has just bounced off a support level which is an overlap support that lines up with the 161.8% Fibonacci extension and could rise to our take profit. Entry: 1.76311 Why we like it: There is an overlap support level that lines up with the 161.8% Fibonacci extension. Stop loss: 1.75413 Why we like it: There is a pullback support level which aligns with the 78.6% Fibonacci projection. Take profit: 1.77642 Why we like it: There is a pullback resistance level which lines up with the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURNZD - SELL NZD has been strong against EURO for the last month and Target Oreder Block is Below spotted by my Kean Eye Tue 21st May : ) Support has been broken Pulled back into FVG Momentum Candle in play Key Points May 22, 2024: Reports emphasized the New Zealand Dollar's strength against the Euro, driven by New Zealand's economic performance and higher interest rates​​. May 23, 2024: Analysis indicated continued bearish sentiment for EURNZD due to Eurozone economic concerns and New Zealand's favorable trade balance​. NZ WIns : )
Short
by NZ_Shareman
buy #eurnzd at 1.7980 and take profit at 1.8102 ratio 1:3buy #eurnzd at 1.7980 and take profit at 1.8102 ratio 1:3 is a trade idea as $nzdemployment data made big miss and were so bad but since #nzdusd #eurnzd #gbpnzd outperform on #nzd side while shoulf be the opposite so i try this trade. may market wanna put off all retail trader may copper are up so much that boost nzd for now i see 0 reason why nzd outperform after the so bad employment data so i try with eurnzd but may better gbpnzd..only nzdjpy gone in good way but coz boj intervention
Long
by corsicasia
EURNZD What Next? BUY! My dear friends, My technical analysis for EURNZD is below: The market is trading on 1.7713 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 1.7827 Recommended Stop Loss - 1.7636 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
3
EURNZD Massive Long! BUY! My dear subscribers, This is my opinion on the EURNZD next move: The instrument tests an important psychological level 1.7709 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.7821 My Stop Loss - 1.7645 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
EURNZD to continue in the downward move?EURNZD - 24h expiry Our short term bias remains negative. Preferred trade is to sell into rallies. 50 4hour EMA is at 1.7784. The sequence for trading is lower lows and highs. Expect trading to remain mixed and volatile. We look to Sell at 1.7785 (stop at 1.7835) Our profit targets will be 1.7665 and 1.7635 Resistance: 1.7760 / 1.7785 / 1.7820 Support: 1.7725 / 1.7700 / 1.7655 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