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
EURNZD H8
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...
Hi Guys,
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...
Price currently around a daily/weekly resistance support 1.6000
A trendline break has occurred with slowing momentum, indicating a trend change might be on the way. the 4H and 1H printed a bearish divergence with the RSI, now the 1H trendline and daily pivot are being tested. Entered after ECB interest rate decision around today's highs. Additionally if this one...
Hi traders,
As you can see EURNZD pair recently enjoyed a good rally mainly due to weakness of NZD. Now that the price has reached to a Resistance level where this pair has reacted on a number of occasion. Similar level has worked as a support as well. I will be looking for a bearing engulfing candle to go short on this. First tp will around that marked support...
EURNZD was travelling in a blue triangle, but as you know from our previous trades, price broke out to the downside, came back to retest the triangle at the 0.618 retracement level before making its way much lower then the previous support zone.
Price is now travelling in a descending channel and has touched the bottom after a large impulse move down, we expect...
Analysis:
- Price is holding around the support level. Could be a retest of this level or a possible reversal.
- Wait for confirmation candle
- Maybe a continuation of the overall downtrend or a continuation of the previous uptrend wave.
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...
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