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EURNZD - 1H Possibly turning over

In follow up to my previous post EURNZD Reversal Continues with Strong Momentum
The pair has now reached the resistance area as outlined in the previous blog post.
The weekly chart, as indicated below, shows that the larger trend remains to the downside. These levels can offer some decent Risk to reward setups for short scalps.
The 1 Hour wave count shows a double correction has completed to the upside. A daily close below the Daily S/R level indicated on the chart would provide stronger …
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EURNZD Reversal Continues with Strong Momentum

Eurnzd posted it's second weekly gain after being in a downtrend since Feb. The larger trend in the pair (Weekly/Monthly/Yearly) are all in a downtrend as well.
Although the momentum in the pair is strong, as indicated by the weekly candlesticks, the pair looks to be approaching some resistance.
Weekly resistance comes in at 1.5092, which held price up July/August 2012 and then once again in April 2013. Ahead of that level, there is also a long term channel formation in play dating back several …
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Risk based trades

The SPX seems to have hit resistance at 1274/1275 and other indexes have posted some days in the red.
To start the week off, the commodity currencies have been hit hard, but the move in equities may signal some demand to the short side in pairs like EUR/NZD as a risk based trade.
Will need to see some further follow through with equities to confirm a turn in some of these pairs as they have been quite bullish as of late.
The EURAUD is also a currency to watch, but with the RBNZ conference around…
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EURNZD Remains bearish against it's monthly Trendline

Similar to my previous analysis in last months contest, the pair is still showing the same setup and looks to be bearish
There is a Major monthly trendline in place, as well as a daily channel formation, the pair has yet to break any of these significant technical levels on a weekly or monthly basis. The Doji this month further reaffirms the upside momentum has subdued.
Levels
1.8385 - Previous High and invalidation area
1.6226 - Major Resistance
1.5850 - Major Support/Resistance
1.5600 - Weekly…
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Jignesh avatar
Jignesh 10 Нояб.

The pair is still consolidating withing the daily channel.  Last week the price maxed out at 1.6275 which marked the top of the channel, meaning a new wave structure may have started and in progress.  Will be watching for a sharp down side move within the coming 2 weeks.

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Jignesh 17 Нояб.

EURNZD finally broke out of it's range to make a monthly low.  The previous comment proposing a potential new wave structure after touching 1.6275 is favored.  Last week we saw the 61.8% of the last leg up (1.58064) holding price, however the week's open gapped lower and closed a daily candle below it, negating the presumed buying pressure.  The next level to the downside is 1.5725 which marks last week's low, with a trendline near by below (as indicated in charts).

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Jignesh 27 Нояб.

The pair has been makig violent swing in the range of 300 pips roughly in both directions, giving the view that we may be in a temporary range.  In tomorrow's early Asian session, we have the ANZ Business Confidence which may act as a catalyst for trend development, on continuation.  For now the pair hovers around targets, but is quite volatile

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Jignesh 28 Нояб.

EUR CPI Flash estimate is due in the UK session today which can be a trigger for some further dowside as the pair hovers around the 1.5900 mark.  1.5920 marks the 61.8% retracement of the last leg on the 1H which should offer resistance.  Earlier Business confidence number had little impact on the pair.

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Jignesh 1 Дек.

With less than a day left, EURNZD has gapped up to start off the week, but as per the 4H chart, the upside is limited.  The 200MA has done well in capping price to the upside, above that is the important 1.6015 level as well.  To the downside there are several support zones the pair would have to break in order to reach targets, but the possibility certainly remains

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Playing on EUR strength - Long EURNZD

The EUR has been strong against all of it's counterparts, except the USD, in the last 24 hours.
My Fundamental view, is that the ECB will not be implementing any Monetary Policy changes this week, despite what the major banks are saying. In fact the ECB released a statement saying exactly that, late last week.
I've taken a long in EURNZD. The NZD is pulling back quite quickly against the USD. I will be keeping this position open for a bit longer until my buy signal in NZDUSD gets hit at the leas…
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bharatholsa 2 Сент.

Green Pips Jignesh :)

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Jignesh 3 Сент.

thanks bharatholsa - 140 pips in the green, worked out better than expected

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The case for a bullish EURO

After the big drop in GBP today, I had to re evaluate my long in EURUSD. But after looking at some of the cross rates my conviction remains bullish on the EUR.
There is no doubt that the momentum remains to the downside. And of course the better trade is shorting from higher levels. But here are the reasons I remain on the long side
  • EURAUD - has completed the Head and Shoulder's pattern on the daily chart
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Daytrader21 14 Авг.

You just gave me an idea and i'm going to overview the US Dollar index and see where we stand and the influence on EUR/USD:)

Jignesh avatar
Jignesh 15 Авг.

Good to hear, hope you got a good trade out of it.

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