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EURNZD

EURNZD LowerTrying EURNZD lower here. I think the narrative changing for the EUR is starting to affect positioning and we could see some people coming out of their EUR longs. The longs have been built on a hawkish ECB so far which i think could change. We're reaching the peak of ECB rates soon and EUR data has recently surprised to the downside quite a lot, including today. I think EUR CPI data will start to come in lower as well looking at forward looking inflation data from the EU. The NZD narrative is not amazing but mostly priced in and while there are economic worries NZD still has a very good carry. rate differentials are pointing much much as well, suggesting we should be near the lows of the past 3 months or so while the pair is near the highs (likely due to the china reopening trade taking a big hit so far this year). Not trading/investment advise, feedback welcome!
Short
by Spinning_
EURAUD I Long from bottom of the channelWelcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
32
EURNZD potential long setup at demandI've spotted 2 demand zones ( level on top of level) for EURNZD between 1.78258 and 1.78127 (first demand level) on the 1 hour chart. If price retraces to this zone, I'll be considering a long position. My target is set at 1.79537 (first demand level price target), with a potential for a 6.4 R reward. That's 6.4 units of profit for every unit of risk. I plan to exit the trade if there's a 1 hour candle closing below the demand zone number 2 (1.77957)
Long
by Nuno_Nascimento
EURNZD Long near correction coming soonEUR/NZD’s rebound this month has lacked strength, just as the cross approaches a stiff hurdle at the early-May high of 1.7835. Chances are that EUR/NZD could settle in a 1.7150-1.7850 range in the near term. This follows a retreat in April from the top of a rising channel since 2015. Any break above immediate support at Tuesday’s low of 1.7570 would raise the odds of the range view. RSI above 50 increasing bullish momentum: Pullback possible. Data from Eurostat revealed that the euro zone economy entered into a technical recession as recently as Q1, although only just. Q4 data was revised from a 0 quarterly growth to a 0.1% contraction while the third estimate of Q1 went from 0.1% growth to a 0.1% contraction. Deteriorating economic conditions considered alongside encouraging core inflation data suggest that the euro could come under more pressure despite the ECB adamant on further rate hikes. Markets anticipate the ECB will hike next week and again in either July or September but if subsequent inflation data heads lower, a case could be made that the committee consider a pause or even a ‘skip’ like the Fed is likely to implement.
Long
by DaveBrascoFX
2
EURNZD SHORT SETUP ABOUT FVGOn EUR/NZD we have a bullish setup this morning. a strong level has already been formed in the market, closing in less than 3 hours with a +1.5% gain. currently, the price seems to be heading towards the 1.7878 zone, where we have another bearish strong level. As always, we need to wait for the right confirmations on m15 and h1 before entering the market. risk management first and foremost. Wishing everyone a good day, greetings from Nicola, ceo of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy