This pair has the potential to form a form a flag, as right now we are in a corrective state. If the pattern forms I would be looking to short at the rejection of the top of the flag.
I have identified an expanding on this pair and typically expanding tend to move higher to the upside. Price has the potential to head higher to the top of the expanding, and perhaps even break.
Price is looking like it will continue the move to the downside. On the lower time frames, a correction is forming which adds confluence for the continuation. Of course there is a possibility we hold this channel bottom and head back up to the channel top but the market will give us confirmations in order to take advantage.
I have been watching the kiwi for weeks now and price action has just been developing. Price is at key level of value, similar to NZD/USD so I will be watching to see how the NZD pairs perform this week. Price has formed a channel and now we have touched the top there is a possibility for price to move to the downside. For the longer term play I would be looking...
Similar to the other NZD pairs, price is in a key area of value and it is likely we will se price react in this area. A first target would be the trend line and if we break, then we will look to reach the beginning of structure.
EURNZD is Bullish - We look to Buy at 1.7295
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Bespoke support is located at 1.7295.
▪️ A bullish reverse Head and Shoulders is forming.
▪️ We have a 78.6% Fibonacci pullback level of 1.7295 from 1.7190 to 1.7653.
▪️ Further upside is expected although we prefer to set longs at...
These are the two likeliest scenarios which I find plausible. My bias is that we will rally back up to forma. double top formation, slightly exceed the high before dropping but we could see bears come into the market from the word go.
EURNZD is Bullish - We look to Buy at 1.7420
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Bespoke support is located at 1.7420.
▪️ A bullish reverse Head and Shoulders is forming.
▪️ We have a 61.8% Fibonacci pullback level of 1.7361 from 1.7653 to 1.7190.
▪️ Further upside is expected although we prefer to set longs at...
Price is creating lower highs.
I love studying this pair. Text book set ups. You can really learn a lot with a bit of patience and study time.
Trades for educational purposes only.
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NZDJPY is Bearish - We look to Sell at 66.08
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Price action continued to range between key support & resistance (66.16 - 63.46) and we expect this to continue.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 66.08, resulting in...
EURNZD is Bullish - We look to Buy at 1.7865
▪️ Continued downward momentum from 1.8263 resulted in the pair posting net daily losses yesterday.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ We have a 61.8% Fibonacci pullback level of 1.7854 from 1.7601 to 1.8263.
▪️ Further upside is expected although we prefer to set...
NZDJPY is Bearish - We look to Sell at 65.40
▪️ Trading within a Bearish Channel formation.
▪️ We have a 78.6% Fibonacci pullback level of 65.29 from 65.79 to 63.46.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 65.40,...
A bit hesitant to take this short as USD seems to be on the verge of reversing. Will be looking at how price reaches the descending trendline and then act accordingly.
NZDJPY is Bearish - We look to Sell at 64.46
▪️ Short term momentum is bearish.
▪️ A Fibonacci confluence area is located at 64.52.
▪️ Bespoke resistance is located at 64.46.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 64.46, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and...
EURNZD is Bullish - We look to Buy at 1.7770
▪️ Continued downward momentum from 1.8179 resulted in the pair posting net daily losses yesterday.
▪️ We have a 78.6% Fibonacci pullback level of 1.7782 from 1.7661 to 1.8227.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ As this corrective sequence continues we look to set...
