It looks like the corrective minuette wave ii completed or it's going to complete its bearish course near 1.7156/1.7300. The recent attempt to push prices down brought the pair lower where a subminute ,otive wave can be expected. This would add to validation components that could have minuette iii completed. SHould that effectuates, participants could look at the...
In the forex market, everything is determined on a relative basis. The best outcomes for trades come when we find currency pairs that are polar opposites in strength and fundamental stability. It is always wise to value both currencies instead of just one. How do we determine what is weak and what is strong? The normal process of qualitative valuation, like is...
The corrective structure on EURNZD daily chart has broken to the upside but does that mean that it is time to jump into this trade? In my opinion we need to wait for confirmation of direction before entry. I am expecting to see a flag formation at this level on the H4 time frame which if it breaks up, I will enter the long. The possibility still exists that we...
Using Top down analysis I have a Bearish Bias for this pair you can clearly see an overall Double Top Pattern on the higher TF's I am currently short with my SL above 1.62806. TP Targets are set yet awaiting more bearish price action. On h1 there is a smaller Double Top which I made my entry on. Also my pending was triggered @ 1.62248 which gave me a perfect wick...
Long EURNZD: 1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURNZD has a cumulative probability of a =>6th day lower at 0.5%, hence there is a implied 99.5% chance of reversal on the daily. 2. Also we see the Z-Score for, Monthly, 3m and 2wk all above 1SD. 3. Fundamentally I also like being long EUR given the ECBs new more neutral...
Long EURNZD: 1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURNZD has a cumulative probability of a =>6th day lower at 0.5%, hence there is a implied 99.5% chance of reversal on the daily. 2. Also we see the Z-Score for, Monthly, 3m and 2wk all above 1SD. 3. Fundamentally I also like being long EUR given the ECBs new more neutral...
Be careful of the volatile news affecting the dollar but anyway the downtrend is coming to an end and us seeing bullush momentum when price reaches 1.51 level it will jump. Price is well belo wboth EMA's and stoch is oversold.
Long EURNZD at C wave to make another impulse up, a bigger impulsive 3rd wave up. Multiple targets at trendlines.
The strong move away from 1.60820 shows that price could not stay in that range. The hope is that there is still a move away from the area on return. The risk of this long position is 90 pips; with a reward of ~5xRisk. EP: ~1.60820 SL: ~1.59930 TP: ~1.65170
I would like to see the Euro rally higher into the top yellow box (denoting a Day Supply Zone), then a short can be initiated to sell the Euro against the Kiwi. The risk is 70 pips with a reward of >5xRisk. EP: ~1.65170 SL: ~1.65870 TP: ~1.60870 The strong move down from the 1.6517 area suggests that there may be a resell in that area the next time price revisits.