breakout of trend line and support/resistance zone. Crossover of EMA 9 and 20 occurring too. Target 1 at 1.68989. Make risk free or close at that point. Final target at 1.69765. R:R = 1:3.31
Based on my analysis and theory on EURNZD, I am expecting the price will start rising as RSI is showing as oversold at this time (along with support area as you can see in the image).
Wait for a clear up trending and price action before making any entry!
About 50-60 pips up for grabs with this trade, this is short-term trading.
Trade at your own risk and know...
Bought around this area for a continuation of the descending channel. Made profits from shorting during the week and now turning short term bullish as buy order should get filled around here. Smaller risk used on this as i have ‘bought aggressively’ at the bottom of the channel rather than after confirmation.
EURNZD - I have alerts set for the 1.81000 region. In this area we would have an inverse head and shoulders, a key level, support from previous swing points and the 61.8% fib! We have the 4hr 50 EMA just above the 1.81000 region but I wouldn't be surprised if we push slightly lower before an aggressive reversal. Getting people caught on the wrong side of the...
EURNZD has been travelling in a triangle to the downside. We entered into a long position after we saw some confirmations of trend reversal on lower time frames ,our target for the long position (RETEST) is the 0.618 of the large previous downwards impulse move. This is where we have short positions locked and loaded.
we hope you enjoy some profits from this trade...
Upward trend since end of September broken when close below short term support and resistance 1.5483, fall to July lows presents buying opportunity. look to go towards longer support and resistance of 1.5834. If this is broken and goes above 2016 high/low fib retracement 0.3821 we could expect returns to long term support line (and fib retracement 0.5) of 1.61....
