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New Zealand Dollar/Euro

0.53962EURR
−0.00194−0.36%
At close at Feb 28, 21:59 GMT
EUR
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NZDEUR trade ideas

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
EURNZD: We see upside risk of a short-term bounceThe daily oscillator has picked up, and the price manages to hold the parallel support zone, moreover the daily RSI recovering from the oversold territory. Last week the cross was seen to recover to 1.6680 ahead of the resistance at 1.6730. A breakout above the resistance 1.6730 could strengthen the upward momentum, with a new target the resistance levels around 1.6850 and 1.7000. A small bullish H&S pattern has formed in the hourly chart moreover daily indicators are very upbeat and has turned marketed bullish. Under these conditions, we forecast a limited downside approach (1.6450). Note that only a break of these last barriers would lessen the risk of a dip back to a critical support zone between 1.6550-1.6520 below here 1.6450 its 100MA (Weekly) exists. Turning to the weekly chart, the RSI is close to the oversold territory. Thus, we see upside risk of a short-term bounce in EURNZD. The short (two-five days view) outlook remains extremely favorable for the cross which has already rebounded mildly since testing the support at 1.6557 last Thursday.
Long
by KeytoMarkets
SHORT There is a great opportunity to sell in EURNZDMidterm forecast: While the price is below the resistance 1.7820, beginning of downtrend is expected. We make sure when the support at 1.7380 breaks. If the resistance at 1.7820 is broken, the short-term forecast -beginning of downtrend- will be invalid. Trading suggestion: Price is in the Trend Hunter Sell Zone (1.7480 to 1.7705). We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (1.7480) Ending of entry zone (1.7705) 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: Technical analysis: The RSI bounced from the resistance #1 at 80 and it prevented price from more gains. The RSI uptrend #2 is broken, so the probability of beginning of downtrend is increased. The RSI support #3 at 50 is broken, so the probability of beginning of downtrend is increased. A peak is formed in daily chart at 1.7730 on 09/26/2018, so more losses to support(s) 1.7480 and minimum to Major Support (1.7380) 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 43. Take Profits: TP1 : @1.7380 TP2 : @1.7290 TP3 : @1.7185 TP4 : @1.7115 TP5 : @1.6965 TP6 : @1.6815 TP7 : @1.6565 TP8 : @1.6355 TP9 : @1.6180 TP10 : @1.5785 TP11 : @1.5255 TP12 : @1.4535 TP13 : @1.3875 TP14 : Free
Short
by ForecastCity
There is a great opportunity to sell in EURNZDMidterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.7115 would begin in Midterm. Trading suggestion: Price is in the Sell Zone (1.7295 to 1.7480). We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (1.7295) Ending of entry zone (1.7480) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " 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 the special version of our " Price Action " strategy FOLLOW our lessons : Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 1.7485 on 08/10/2018, so more losses to support(s) 1.7295 and minimum to Major Support (1.7115) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 60. Take Profits: TP1 = @1.7115 TP2 = @1.6965 TP3 = @1.6815 TP4 = @1.6565 TP5 = @1.6355 TP6 = @1.6205 TP7 = @1.6010 TP8 = @1.5655 TP9 = @1.5255 TP10 = @1.4535 TP11 = @1.3875 TP12 = Free
Short
by ForecastCity
EURNZD:Cruising through thresholds. Timing is the factorEURNZD: ECB June meeting=RBNZ August meeting At June’s ECB meeting the rate hike timing factor triggered the tremors, sent EURSUD to 1.1560 down nearly 2.0%. Fast forwarding to today’s RBNZ meeting, NZD tumbles after RBNZ delay rate hike for another year. At the time of writing NZD down more than a percent across the board. The cross just has been run through the higher end of the descending wedge pattern and finally breach the early July high too. The erosion of these is highly encouraging us to focus on Dec 2017 high seems to be at 1.7479. A weekly close above the barrier 1.7479 rounded to 1.7500 would be needed to initiate further pronounced recovery to 1.770 and 1.780 in the coming weeks.. The 200MAs on the monthly chart spread between 1.7730 and 1.8000 levels. The supports are finds at 1.73301.7230 and 1.7120.
Long
by KeytoMarkets