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Eurnzdlong

EUR/NZD SCENARIO BREAKDOWN|TRADING PLAN The pair is trading between the two poles of attraction, those being the upper resistance and the lower support. Meanwhile a structure above the green support line has formed. TRADING PLAN: Before the support breaks, we assume it is solid and hold a long position, supported by the general recent uptrend in the pair. The realistic target level is on the chart by the dotted line. However, the bullish impulse might reached the upper bound resistance and from a double top. IF the green support gets broken>>we wait for it to be a confirmed breakout and short on retest. One might argue that there is Head and Shoulders pattern above the support. Which would add legitimacy to our shorts. The realistic target is the dotted line, yet the impulse might bring us to the lower bound support itself. Also, we might find ourselves in a situation where the two scenarios happen one after the other, namely, the pair first goes up in an impulse and then goes down, breaking the support. Then, we first surf the wave with the long, then wait for the breakout and go short. In that scenario by the way, the H&S pattern will be clearly visible and therefore more reliable. Thank you for reading, like and subscribe and have a nice day!
Long
by ProSignalsFx
1
EURNZD - BULLISH BIASEUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020. 3️⃣ Industrial producer prices in the Euro Area rebounded 0.7% from a month earlier in June, beating expectations of a 0.5% gain. NZD - BEARISH 1️⃣ Market participants expect the New Zealand's Unemployment Rate in the second quarter to rise from 4.2% to 5.8% with the Employment Change declining by 2%. 2️⃣ Risk-off market sentiment expected as surging coronavirus infection rates across the US dampens investor hopes of economic recovery. ===== TECHNICAL ===== 📊 We long this pair on RBS level + SMA50 area. 📊 EURNZD in bullish mode.
Long
by MonsunAsia
EURNZD - BULLISH BIASEUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020. NZD - BEARISH 1️⃣ NZ joining the throng of countries cutting extradition ties with Hong Kong in response to China's new national security law. 2️⃣ Risk-off market sentiment expected as surging coronavirus infection rates across the US dampens investor hopes of economic recovery. ===== TECHNICAL ===== 📊 We look to buy on RBS level + SMA50 area 📊 EURNZD in bullish zone.
Long
by MonsunAsia