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EURNZD

EURNZD ____ UNDERSTANDING ORDER BLOCKSHello Trader, Here we have EURNZD which showed bullish strength last week and rallied into a daily order block. This daily order block is meant to cause a reaction in price i.e a reversal or retracement. What are order blocks you may ask: Order blocks in forex are price levels where institutions attempt to buy or sell a foreign exchange pair without potentially having too much of an impact on the pair's price. Once the price enters an order block, It mitigates the orders that were initially placed there and would trigger a bullish or bearish move in price depending on where the price is coming from. Order blocks found on the daily timeframe (as marked on my chart), weekly and monthly timeframes are usually really strong and can cause a reaction in price. As you can see, the price created multiple buy-side liquidity just around the order block to induce early sellers, then liquidated their positions. It has gone deeper into the order block and has changed the structure on the 1-hour timeframe from bullish to bearish as expected. From here, I expect the price to retrace not reverse as higher timeframes such as the weekly and monthly suggest higher prices to come. Follow for more analysis. Cheers, David
Short
by jabariofafrica
1
EURNZD to turnaround?EURNZD - Intraday Short term momentum is bearish. Expect trading to remain mixed and volatile. A break of the recent low at 1.7633 should result in a further move lower. We look for losses to be extended today. Short term oscillators have turned negative. We look to Sell a break of 1.7623 (stop at 1.7683) Our profit targets will be 1.7473 and 1.7443 Resistance: 1.7680 / 1.7730 / 1.7760 Support: 1.7633 / 1.7580 / 1.7500 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURNZD H4|Bullish reversal from 23.6% Fibo?EURNZD could pull back towards a key overlap support and potentially reverse from this level. Price could hit our buy entry at 1.76730 and bounce up from here. Our stop loss will be at 1.75807 which is a level that aligns with the 38.2% Fibonacci retracement. The take profit level will be at 1.78373 which is a recent swing-high. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
EURNZD to find support at previous swing high?EURNZD - Intraday Daily signals are bullish. Short term momentum is bullish. A lower correction is expected. The previous swing high is located at 1.7556. Previous resistance at 1.7520 now becomes support. We look to Buy at 1.7522 (stop at 1.7462) Our profit targets will be 1.7672 and 1.7692 Resistance: 1.7700 / 1.7738 / 1.7770 Support: 1.7650 / 1.7580 / 1.7530 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
20 REASONS FOR Sell EURNZD🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: The market structure is extremely bearish, with all yearly imbalance areas filled. There is a strong downward momentum, and a long wick candle on the yearly timeframe suggests further downside potential. Overall, the bearish sentiment prevails. 2:📆Monthly: The monthly timeframe shows a significant entry opportunity that has the potential to recover previous losses. After tapping the monthly order block, an impulsive bearish move started, and the target for this long-term trade is set at 1.5788. Selling and holding the position is advised due to a big momentum candle engulfing previous price movements. 3:📅Weekly: While the weekly structure is not yet fully bearish, we know that prices have filled out important monthly areas. Therefore, we are currently seeking sell entries from this point. 4:🕛Daily: The daily breakout of consolidation (BOC) has occurred, confirming the monthly rejections. We are now waiting for a bullish correction to occur at a resistance level where we can enter a sell position. 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bearish internally, external confirmation pending (waiting for monthly confirmation) 6: 2 Pattern Candle Chart: Inside bar pattern suggests a potential reversal towards the order block 7: 3 Volume: Bearish volume is observed 8: 4 Momentum UNCONVENTIONAL Rsi: RSI is in a super bearish zone, below 40 9: 5 Volatility measure Bollinger bands: Currently showing low volatility 10: 6 Strength ADX: Bears are in control, indicating strength 11: 7 Sentiment ROC: EUR is weaker compared to other currencies ✔️ Entry Time Frame: Daily 12: Entry TF Structure: Bearish 13: Entry Move: Impulsive 14: Support Resistance Base: Monthly order block tap 15: FIB: Fibonnaci retracement levels applied ☑️ final comments: Sell 16: 💡decision: Short 17: 🚀Entry: 1.7222 18: ✋Stop Loss: 1.7601 19: 🎯Take Profit: 1.5788 20: 😊Risk to Reward Ratio: 1:7 🕛 Expected Duration: 2 months
Short
by Optimum369