As you can see the price is now at a key level where historically acted as a support and resistance. We have a nice double top in place on the 4h and 1hr chart, also RSI is seriously overbought. I'm expecting a trend reversal from here and marked my tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
You can see price nicely rejecting the 0.764 fibonacci level, this is more visible on H12 and H4 timeframes. EUR/NZD is already in a strong downtrend shown by 2 bearish trendlines, TP target is the extension level of 1.764, there is also a potential support level before the profit target is met which may result in an early close of the short position
Simple trendline break and daily resistance bounce trade. The major 4hr/daily bullish TL is now broken and retested with a lower high on the 4hr timeframe.
Price has also rejected the daily resistance at 1.71900 so if this is now considered a channel price could drop all the way to lower support at 1.63500
We have now tapped off a key supply zone, on top of that, we have multiple H8 and H4 wick rejections to the upside + H4 and H8 divergence on MACD.
Previous stop hunt has been fulfilled in my opinion as well.
Could be a very nice +400 pip decline, I'm going to close majority of my positions at +120 pips and ride a small lot down risk free as much as I...
My analysis is based on a stuck in the box type formation which has taken place on a D1 chart. With many attempts to breakout it has found a very strong resistance, we have had a false downturn take place today with a retest to the top. What i think is going to happen here is it may even retest and break this key level, but with NZD news coming which is...
EURNZD daily on the left, a major reversal zone in the market has now been tapped off.
On the right, 4H, we can see MACD divergence (the setting for this MACD is different than default, its 3, 10, close, 16), MA 8 and MA 18 about to cross over as well.
In general I believe we can start to finally see the decline for EURNZD.
You can wait for the break and...
This is a short take. EURNZD has shown an initial sharp switch for the south on 4H time frame. Looking at the history of this time frame (over the period shown), this usually is followed by further travel. How far? I don't know. See chart snapshot below.
But this pair is a very volatile one so don't expect it to go down...