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Eurnzdanalysis

EURNZD SHOWING HEAD AND SHOULDER PATTERN WITH 1:5 RISK REWARD EURNZD SHOWING A GOOD DOWN MOVE WITH 1:5 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
Short
by tradergyan01
1
EURNZD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Market is moving in a rising channel. Price tested monthly support, faced rejection and started upward move. W > Price has faced rejection at support of channel and is D > After rejection at weekly demand zone and creating double bottom price is moving in a rising channel. We saw an M formation and as expected price moved up to test its neck and complete the formation. Price faced rejection at channel support. We can expect price to continue with upward move till resistance of channel that can coincide with monthly resistance level. As per COT EUR saw addition of few Long and more Short, reducing net positions further. EXY was weaker during the said week however it gained back its strength last week. Institutions, since last month, reducing their portfolio of Long and increasing Long positions, with total 32K Long positions closed and 13.5K short positions opened. NZD saw closure of both Long and Short positions further improving net positions, whereas ZXY was weak during the said week but it gained strength last week. ZXY has been gaining strength slowly since June 2020. In short term we can expect price to rise up but a bearish reversal can be expected from monthly resistance level. 4H > Price has faced rejection at support of channel and is now testing 4H supply zone. We can see an inverted H & S pattern under formation and price should continue moving upwards. Pair Correlation > EURNZD has positive correlation with GBPNZD and negative correlation with NZDCHF, NZDCAD and NZDUSD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX