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New Zealand Dollar/Euro

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NZDEUR trade ideas

EURNZD: Preparing for a larger descentHello Traders, We have an interesting setup on EURNZD. Between 23rd of Feb and 1st of May, we saw an upward move identified as a corrective wave ABC, with Wave C forming an ending diagonal. Recently, we saw a break of the ending diagonal pattern in wave C, setting the stage for a decline. The break of wave 1 to the downside further confirms our bearish outlook. As such I expect EURNZD to continue the downward movement. However, if the price goes above 1.81557, my analysis of a drop will be invalid. Cheers and happy trading!
Short
by Samuel124
EURNZD Structure Analysis Ahead of RBNZ Rate DecisionEURNZD Structure Analysis Ahead of RBNZ Rate Decision In this video, I analyze the price behavior of EURNZD, considering past price developments and potential movements ahead of the Reserve Bank of New Zealand (RBNZ) interest rate decision on Wednesday, October 9. The market anticipates that the RBNZ will cut rates by 50 basis points, from 5.25% to 4.75%. You may watch the video for further details. Thank you and Good Luck!
Long
by KlejdiCuni
9
eurnzd bullish around 1200 pipsThe EUR/NZD currency pair has exhibited some bullish trends recently, but for a comprehensive bullish analysis, it’s important to consider multiple factors, such as technical analysis, macroeconomic fundamentals, and market sentiment. Here's an overview of what typically drives a bullish case for EUR/NZD: 1. Technical Analysis Uptrend Continuation: If EUR/NZD is forming higher highs and higher lows on a daily or weekly chart, this is a signal of an ongoing uptrend. Key indicators to watch would include: Moving Averages (50-day, 200-day): If the short-term moving averages are crossing above long-term moving averages (a “golden cross”), it signals bullish momentum. Fibonacci Levels: Fibonacci retracement levels can help identify support and resistance areas for potential entry points. RSI (Relative Strength Index): An RSI value below 70 but trending upwards could suggest that bullish momentum is building without being overbought. MACD (Moving Average Convergence Divergence): A bullish crossover in the MACD line above the signal line is a strong confirmation of upside momentum.
Long
by LORDOFTHETRADERS
1
EURNZD - Bearish TrendThis analysis highlights several factors indicating a bearish trend in the current market: Bearish Divergence: Recent price action shows a divergence between price and momentum indicators, suggesting a potential reversal to the downside. This discrepancy signals weakening bullish momentum, which could lead to further declines. Head and Shoulders Pattern: The formation of a classic head and shoulders pattern reinforces the bearish outlook. This reversal pattern indicates that a top may have been reached, and a breakdown below the neckline could confirm a significant price drop. EUR Outlook: The Euro (EUR) appears to be bearish, influenced by macroeconomic factors and sentiment shifts. Weakness in the Eurozone economy may add pressure, contributing to downward movements in related currency pairs. Overall, these elements combine to create a compelling case for a bearish sentiment in the market.
Short
by gulraizali90