Price has formed a ascending channel and has already formed the 1st correction which is a hover that has formed before the break to go short.
Keeping in mind there is always a possibility it can go higher up before the drop.
Either way my bias remains SHORT.
Due to downfall in New Zealand Dollar, EURO is currently going bullish against NZD and is likely to keep up with the momentum till Resistance (R1) Point.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.7333). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
EUR/NZD was ranging & now has broke the range level creating a big green candle & a new zone. Keep an eye on this zone, its fresh and if the price comes again to this zone to test, there is a probability it would shoot up!
This is only for educational purposes & I aint any financial advisor. Control your risk, its very important, always use a stop loss.
Hi traders,
The probabilities to be in the short direction is hight base on the direction of the indices, at the moment all the indices they are on the recovery because of the idea of 2 trillion from the USA into the economy. Them you can see that they do non stop to send positive idea for investors to get into stock again.
Now, in my opinion, is not clear that is...
