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Euro / New Zealand Dollar

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EURNZD trade ideas

A trading opportunity to Sell in EURNZDMidterm forecast: While the price is below the resistance 1.7390, beginning of downtrend is expected. We make sure when the support at 1.6325 breaks. If the resistance at 1.7390 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 1.6410 on 02/15/2019, so more losses minimum to Major Support (1.6325) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 44. Trading suggestion: There is possibility of temporary retracement to suggested Sell Zone (1.7115 to 1.7230). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. Beginning of entry zone (1.7115) Ending of entry zone (1.7230) Entry signal: Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1 : @1.6965 TP2 : @1.6815 TP3 : @1.6565 TP4 : @1.6325 TP5 : @1.5830 TP6 : @1.5255 TP7 : @1.4535 TP8 : @1.3875 TP9 : Free
Short
by ForecastCity
2
We see upside risk of a short-term bounce in EURNZD-UpdateRecent pullback enables the cross to gather momentum to trigger a new round of rallies. The pickup of the daily indicators indeed pleads for another test of the resistance at 1.6770. A break of this level would be needed to initiate a strong recovery to 1.6850, 1.6920 its 20MA and 1.7080 levels.Note that a drop below 1.6640 would pause our bullish view. The supports stand at 1.6640, 1.6550 and 1.6500. Our earlier forecast www.keytomarkets.com
Long
by KeytoMarkets