EUR/NZD trading news

Hello everybody!

I've been "studying" EUR/NZD for some time and I decided to start my own thread (which is also my first thread).

So we have a descending channel and a buy is to be waited only if the price rises over 1.8680. Otherwise we wait a sell after confirming this level. We also can see now a divergence on M15 which is a sign of a possible rising.

If the level of 1.8625 is confirmed, then we have a sell sign.

If the price goes under the level of 1.8540, the descending trend will continue at list with 50 pips.

Waiting for your opinion.

P.S. Excuse my english :

that may work... what will you use for stops and tp?

We can easily see that the descending trend is over (for a while) because we have a strong level zone at 1.8557 with 1.8578 which the price couldn't pierce trough.

For a while the price will oscillate between 1.8557 with 1.8578 and 1.8700 with 1.8680. After this, two things can happen:

1. If the price transfixes 1.8785 with 1.8770 then we have an ascending trend which will consolidate itself after transfixing 1.8875 with 1.8860.

2. I said "for a while" because if the price will go under 1.8578 with 1.8577 the descending trend will continue.

EURNZD 4H chart below. 1.8550 support in a downtrend - if it gives way I reckon some stops will be triggered plus new shorts will add up in this market, propelling price fast towards 1.8500.

Consolidation after a thrust is normal and doesnt mean that the downtrend is over. Many times it just takes a breather before a new thrust.

I agree with you. The values that I gave are the ones indicating if the trend in or isn't continuing.

looks like a flag pattern to me... suggesting it may continue with its current trend as WTB said..

Today's news will evidently have impact on the evolution of the price. But if we analyze the evolution since now we can see that, indeed, the trend has changed (as I predicted : ) but the question is now "where the price will trend after exiting this flat?"

Good entery poits are:
A - sell after the price will cross and confirm 1.8700 with 1.8680 and then move the SL on 1.8600 and wait for the price to transfix 1.8578 with 1.8557 and confirm 1.8527;

B - buy after 1.8785 with 1.8770.