Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair.
Monthly : We have just Completed an "M" formation We expect the price to hit the neckline at 1.73800 in the long term if we reject the current area of support we are currently sitting at .
Weekly : We have an ABC corrective sequence waves and we might be ready for the next impulse very soon.
Daily : We just completed a "W" formation pattern and we just rejected the price to the upside which may indicate a bullish move soon .
COT : Institution have been Increasing net positions in EUR since they added more than 4000 long positions and closed to 800 Short position during the last report.
From an NZD perspective we are still looking at a Steady NZD while EUR is gaining in strength which may explain our vision of a bullish EUR.
8H: On this timeframe we do have a bullish environment and the price is creating HH and HLs and we do expect a continuation to the upside on the long and short term.
MACD: Bullish environment
EMA's Cut for long
We do have two long setups for this pair , one in the mid-short term and one in the long term.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
Monthly : We have just Completed an "M" formation We expect the price to hit the neckline at 1.73800 in the long term if we reject the current area of support we are currently sitting at .
Weekly : We have an ABC corrective sequence waves and we might be ready for the next impulse very soon.
Daily : We just completed a "W" formation pattern and we just rejected the price to the upside which may indicate a bullish move soon .
COT : Institution have been Increasing net positions in EUR since they added more than 4000 long positions and closed to 800 Short position during the last report.
From an NZD perspective we are still looking at a Steady NZD while EUR is gaining in strength which may explain our vision of a bullish EUR.
8H: On this timeframe we do have a bullish environment and the price is creating HH and HLs and we do expect a continuation to the upside on the long and short term.
MACD: Bullish environment
EMA's Cut for long
We do have two long setups for this pair , one in the mid-short term and one in the long term.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
