EURNZD W4 NOV 2020EURNZD
Long Setup
EURNZD W4 NOV 2020
A simple breakout scenario here with multiple interesting targets in play. Invalidation level can be placed below the demand zone.
Eurnzdanalysis
EURNZD EURNZD as we showed in our analysis from November 23, eurnzd will continue its upward trend first to the area 1.74800 then to the area 1.77000. because it rejected the trendline formed several weeks ago.
EURNZD Price in Demand Zoneprice in demand zone looks really good it can be a good swing trade
Long : 1.71
Stop : 1.695
Target : 1.73 , 1.75 , 1.78
EURNZD LONGWe broke the downtrend to the upside and head to a supply zone.. price retraced testing the previous high, touched the 50 SMA on the 1h chart and the 200 EMA on 15 min. We see that we are in a range at the moment. We should enter the trade after this area will be broken to the upside at around 1.71867, SL-1.71086(under the low of the range), TP1-1.72050, TP2-1.72570, TP3-1.73320
EURNZD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
EURNZD Weekly Retracement Move EURNZD is creating higher high's and higher lows on lower timeframes indicating that the market is making a potential retracement based on the weekly structure. I want to see this market pullback to the previously broken support zone to retest this area as support again. Overall targets between 1.74000-1.75000 area.
EURNZD Longterm Short SetupEURNZD is looking like it is potentially starting its retracment back to the previously broken support. This zone has the following Confluences:
1. Bearish Market
2. Previously broken Support
3. 50% Fib Level
If this market can show a price action signal in this zone, I will feel confident taking shorts and having overall targets set at 1.62900, which is an important key level that lines up with the -61.8 fib extension
EURNZD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
Buy!- Breaking the downtrend line.
- Saturation of sales in the daily RSA indicator.
- Positive divergence in daily, four-hour and weekly timeframes.
