EUR/NZD Bearish Trend Expected After Double Top RejectionEUR/NZD is expected to enter a bearish trend after rejecting and forming a double top at the 1.80200 level. With the rate cut expected today, this bearish move could drop to 1.78520 without much resistance. Keep an eye on the RSI overbought/oversold zones for potential corrections along the way.
EURNZD trade ideas
SELL EURNZD - trade explained in detail Trader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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eurnzd shortDowntrend: The pair has been forming lower highs and lower lows, indicating a potential downtrend1.
Moving Averages
50-period and 200-period Moving Averages: The price is currently below both the 50-period and 200-period moving averages, which is a bearish signal1.
Key Levels
Chart Patterns
Double Top Formation: A double top pattern has formed, which is a classic bearish reversal signal1.
Indicators
Relative Strength Index (RSI): The RSI is trending downwards, indicating weakening momentum2.
MACD: The MACD line is below the signal line, reinforcing the bearish outlook2.
Conclusion
Given the current technical indicators and chart patterns, the EUR/NZD pair is showing signs of a bearish trend on the H4 chart.
EURNZD - Short TradeOn Tuesday (manipulation day) price swept the previous week high (PWH) with a great sign of weakness: a market structure break (MSB).
Also, a good confluence for me is a MACD divergence on the 4H timeframe (when price made a higher high, but indicator show us also sign of weakness by not making a higher high in histogram).
As a target, I prefer the opposite key level - 4H demand zone
I'm excited to see your opinion in the comments, and I'd like it if you could boost this idea if it was helpful for you!
EUR/NZD Ready To Sell After 4H Closure To Get 200 Pips !If we have a good 4h bearish closure below this res we can sell this pair , and to be more sure you can wait for daily closure to get the best confirmation.
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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.
EURNZD ShortPossible swing trade
There was a change in character, and price created a new low. Price then retraced to the equilibrium zone and tapped the FVG. Possible 3 pin pattern formation happening. For aggressive trades, one can enter now as i have done but for conservative traders, wait for D candle close then enter tomorrow.
EURNZD Awaiting Directional BreakoutEURNZD Awaiting Directional Breakout
Technical Analysis:
The EURNZD pair is currently consolidating within a triangle pattern. Typically, this pattern suggests a bullish movement, but the current situation presents a more complex scenario.
Bullish Scenario:
A breakout above the triangle pattern would confirm a bullish trend, potentially pushing EURNZD higher towards 1.8020 and 1.8075.
Bearish Scenario:
Conversely, a breakdown below the triangle pattern would confirm a bearish trend, potentially driving EURNZD lower to 1.7830 and 1.7760.
You may find more details in the chart!
Thank you and Good Luck!
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Lingrid | EURNZD bearish MOMENTUM on the DAILY. Short The price perfectly fulfilled my last idea. FX:EURNZD made a significant nosedive on the daily timeframe but has since pulled back after bouncing off a support level. This pullback resulted in a 50% retracement, with rejection candles appearing on the daily chart. Currently, the price is testing the psychological level of 1.8000, and it's evident that the market is moving sideways just below this level, indicating that bears are beginning to show downward pressure. Given this setup, I anticipate a potential fake breakout or a price squeeze at the resistance, which could then lead to a subsequent bearish move. My target is support level at 1.77800
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
EURNZD Possible SELL?The market is currently testing the current daily fib area.I'm anticipating for a sell should the current level hold.
Based on price action, the market is showing a reversal chart pattern on the 4HR TF.
Let's see how this will play out
Disclaimer:
Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account.
High-Risk Warning
Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.