EURNZD Chart Confluence factors : 1: pattern : Resistance 2: bullish bias 3 : upward stable trend inside the channel 4: timeframe 60min. 5:Possibility 75% 6: Target : long 1.5445 .. short 1.5334
Our current EURNZD short is going perfectly as expected. I would like to close the gap on the current short but there are yet a few major supports to break through and I believe a pull back to a previous major support/resistance will be necessary. Therefore, this opens up the potential to a secondary short trade to take this down further. The 1W chart shows...
Our EURNZD Long was based on trend continuation + indicators, however, we played it against a forming H&S pattern, which has now completed on the daily chart. Our Long has not stopped out so I will be keeping my Long open in case of a recovery and continue to monitor the situation. However, if my short does get triggered then I will favour the H&S and may decide...
After a through analysis, I have found out a potential shorting opportunity for EUR/NZD. We should wait for a pullback before we sell. The pattern which is actually looking like a Head & Shoulders (SHS) is actually called a "King's Crown" . A SHS is called a "King's Crown" when the left bottom is taken out by the right bottom. You can start selling @ right...
Looking upside breakout from wedge. However keeping mind coming elections in April, which could turn euro lower. NZD could be little overpriced so correction might be possible.
Test and fail of the downward trend line, as well as 2nd test of 50 Fib level, indicated a valid short entry. Price breaking and closing above/below any of the trend lines would mean that this setup no longer valid. Good sell opportunity until 1.4800