Last week, price retraced and continued the bullish trend as expected. This week, we can see a continued push to the upside to retest previous highs. But with a lot of euro news this week, price may change direction. The arrows show my prediction. Trade if it meets your trading plan.
Pair finally broke out from the distribution area after a long rally. It actually gave a lower close, this could just be a correction wave for a move higher. There is a short entry upon retest of broken resistance. Enter if it meets your trading plan.
PRICE ACTION SHOWS WE MAY HAVE HAD A COMPLEX ABC PULL BACK ON THIS PAIR. PRICE ACTION HAS REVERSED FROM KEY SUPPORT AREAS, I WILL LOOK FOR LONG OPPORTUNITIES IF THE CURRENT RESISTANCE LEVEL BREAKS AND RETESTS. NZD NEWS TODAY, LETS SEE WHICH DIRECTION IT TAKES US
AS PREDICVTED, EURNZD HAS TAKEN OFF WITH STRONG BULLISH MOMENTUM, DUE TO THIS PRICE MAY OR MAY NOT SHOOT THROUGH THE FIRST ZONE, IN A CASE WHERE IT DOES , I HAVE PLOTTED A POSSIBLE SECOND REVERSAL ZONE FROM PREVIOUS PRICE ACTION
This pair last week started to put in a series of Higher lows and lower lows indicating a possible trend change or rotation. The blue and red arrows on the chart just indicate my entry points. The longer red arrows indicate my anticipation on this pair for the week ahead. I anticipate this pair to go lower and break the current DAILY OUTSIDE RETURN. The descending...
We have rallied continuosly on this pair without breaking structure once. We are at a key resistance level. For now , no trades, but we let NFP decide on friday
We have seen some bearish movement on this pair, if this pair breaks the current outside return, we can expect some more down side. Market is moving in HH and HL for now. On the chart are my ideas and explanation. Lets watch how things play out over the next couple of weeks.
