EURNZD consolidated yesterday at the downward trendline/S&R zone highlighted. Today on H1 we have a break and retest of this area which indicates shorts are looking likely. With these confirmations I expect a drop to the 2020 low.
However technicals aside, we have the RBNZ interest rate decision 1am tomorrow GMT which will affect NZD pairs. These data releases...
We're got 4 trades coming into the London trading session today and we are shorting AUDUSD, DAX , WTI and EURNZD.
All trades look solid and this quick explanation dictates what we are doing.
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PRICE ACTION IS CURRENTLY CONSOLIDATING AROUND A POTENTIAL ENTRY POINT FOR A SHORT POSITION, AS YOU CAN SEE PRICE ACTION BROKE THE ASCENDING TRENDLINE AND HAS CAME BACK TO RETEST, THIS COULD BE A CORRECTIVE WAVE AND WE ARE NOW JUST LOOKING FOR FURTHER PRICE ACTION CONFIRMATIONS BEFORE FOLLOWING THE ANALYSIS.
Hope all is well. My 21st published trade on Tradingview.com BEEN A LONG TIME COMING, HOPE I HAVEN'T BEEN MISSED LOL
*Please keep yourself alerted on my trades, I will advise either on my Instagram (@Saifsofficial) or in the comment section in Tradingview.com*
EURNZD, been looking at this pair for a while with all the commotion going on in the EUR...
We are presented with what appears so far to be an ascending channel on this pair, with higher timeframes displaying price up trending since late December.
By condensing to the hourly i have observed an area of consolidation around the lower trendline - with price unable to break below. With the trend bullish i am going to look to place buys if we are able to...
Here we see an idea for a SHORT trade position.
Previous 4h candles have shown strong rejections.
Head and Shoulders pattern has formed on the smaller time frames and a retest has been compeleted with confirmation.
Good luck to everyone who enters this trade! :)
I will keep you guys updated if anything changes.
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Fairly self-explanatory chart here. Price has broken through the upwards trend line and is looking like it will pullback up to the previous area of support which will hopefully act as resistance. I then see further downside potential to a previous area of around 1.63600.
I will not be entering this trade straight away! I am waiting for price to pullback to the...