EURNZD Technical Analysis And Forecast




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Hi Traders! EURNZD technical analysis and forecast post is here. As I do with every technical analysis post, multi-time frame analysis method will be applied in order to look for all the possible evidences that support my view on the current trading timeframe and the higher timeframe. The platform in which we perform this multi-timeframe analysis is on the MetaTrader4(MT4). You can find some useful tips and hacks about the MT4 platform here. We will start our analysis from the highest timeframe now which will be the daily chart here.

EURNZD D1(Daily) Chart Analysis – Strong Support Zone, Bullish Divergence, ADX Indicator

On the daily chart, the price which is moving lower has created three waves to the downside. While measuring the first two waves using the fibonacci expansion tool we have a strong support zone that has formed based on the 61.8% fibonacci expansion level of the first wave at 1.68367 and the 61.8% fibonacci expansion level of the second wave at 1.69951. In addition to this, the 1.71 psychological level also coincides on the same zone which makes this area a key support zone for us. The price which was moving lower reached this support zone, respected it, and is currently moving higher. We also have a bullish divergence that has formed between the first low that has formed on 8th June 2020 and the second low that has formed on 9th July 2020 based on the MACD indicator which we may consider as evidence of bullish pressure. Also, the ADX indicator gave a bullish signal at the cross of +DI (green line) versus -DI (red line), and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. Currently, while measuring the first wave of the up move using the fibonacci expansion tool we could see that the price has broken and holding above the 161.8% (1.78017) fibonacci expansion level and it still has room higher towards the 261.8% (1.81340) fibonacci expansion level. We may now move down to lower timeframe and see if we can find evidences supporting this bullish view.

EURNZD Technical Analysis And Forecast

 

 

EURNZD H4(4 Hours) Chart Analysis – Bullish Trend Pattern, Triangle Breakout, Heiken Ashi Candles

On the H4 chart, the price which is moving higher has created two waves to the upside. After the two waves, we had a correction in the form of a triangle pattern. Then the price broke above this triangle pattern and created a new high thus forming a bullish trend pattern, which we may consider as evidence of bullish pressure. So based on all this my view is bullish here and I expect the price to continue higher further.

EURNZD Technical Analysis And Forecast

Also, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. So until the condition changes my view remains bullish here.

EURNZD Technical Analysis And Forecast

 

EURNZD D1(Daily) Chart Analysis

  • Strong Support Zone, Bullish Divergence, ADX Indicator

EURNZD H4(4 Hours) Chart Analysis

  • Bullish Trend Pattern, Triangle Breakout, Heiken Ashi Candles

 

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Also, don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join me in my live market analysis, on daily basis, and improve your trading with us.

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Also, you can get one of my strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

 

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「最高」のトレード、それを追い求めてきました。

FXを始めるあなたにとって、”最高”とは何でしょうか。

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それも良いでしょう。そしてこれらは、私たちにとっては当たり前の前提です。

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それはなぜか。

日本は、広告に支配され

発言権が強い者が、ただそれだけの理由で

もてはやされる国だからです。

最近では一極支配の広告業界に亀裂が走り始めていますが、本当の情報にアクセスできるようになるのはまだまだ先のこと。

しかし私たちは知っています。

世界には純然たる天才が存在することを。

Instiute Trader(IT)

彼は海外大手シグナルサイトでトップの実力と人気を誇るトレーダーです。

月間1000pipsを目標としており、また毎日動画を配信する精力さも持ち合わせた、素晴らしい方です。

紹介動画

Optimum Price Action(OPA)

LH-FX.comでは言わずと知れた現存する伝説のEA。おそらくリアルトレードでは間違いなく最高パフォーマンスを叩き出しています。

作者のThangはSentiment Analysisという理論書を発行し、これが一部のファンドなどからも脚光・注目を浴びています。

紹介音声

これらの特典をセットにしてご提供

ブローカーの性能が良いのは当たり前です。

そのうえで私たちが必要なのは、”たえまない資産形成”であり、私たちは誠心誠意をもって、サービスの提供に努めてまいります。

ご案内はトップページ「REALTRADE.INFO」をご覧ください。

 

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