Recently I posted a short on EURNZD which played out perfectly. We were anticipating the bullish movement we are seeing now. For safe entry, wait for the break of the wedge and a retest of the area marked.
I'll be posted smaller timeframe closer to the time.
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This pair has been making clear moves which could have been caught using simple trendlines, patterns and area of interest. We are now approaching the support of the descending wedge.
A typical descending wedge usually ends up with the price impulsing up aggressively. We may see that with this pair. See chart below for smaller timeframe.
Be sure to give a thumbs...
As previously posted, we were shorting EURNZD to the -27 fib. This lines up nicely with the previous bottom and the major falling wedge indicating a trend reversal.
Will be posting an update as to how to enter closer to the time if there's enough people interested. Drop a like and comment to let me know!
Higher highs & higher lows. We saw a rejection of the 61.8 fib in Asia and another retest to collect liquidity this morning. Looking for a big structure shift with higher highs continuing to be made and the bull run to continue
On the 1hr chart, we can see price has previous rejected at the current 1.68250 level. Creating a resistance zone.
I'm expecting price to retrace back to the highlighted Support Zone.
You can see from at the end of last week, price broke the ascending trend and has retested. This usually indicates a heavier sell off.
When you bring out the Fibonacci, you can...
This has retraced to resistance, looking for it to reject this level and push lower. Target is 1.63124, there are a couple of supports between current price and this target but lots of bearish momentum with this.
I've currently just entered a sell on EURNZD. This is a personnel trade and is being used as a testimonial on a new trading strategy that im currently working on. im excited to see the result here and will keep you guys updated as we go into the evening.
the trade details were as follows:
ENTRY @ 1.68027
SL @ 1.68746 (44 PIPS)
TP @ LEFT OPEN
. There is a possibility of temporary retracement to suggested support line (1.676). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
EUR/NZD currently retesting our resistance zone and hopefully will continue in a bullish momentum.
ENTRY @ 1.67263 (OR UNDER)
SL @ 1.66800 (40 PIPS)
TP @ 1.67800 (60 PIPS)
TP2 @ 1.68200 (100 PIPS)
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