FX.co ★ EUR/NZD

PAIR REVIEW EURNZD Hello! My observation of the EURNZD chart today attempts to continue the upward direction. This is a breakdown of the Maximum - 1.846, but the impulse was bought out. Now the price shows a squeeze to Support - 1.846, if longs still breaks this Resistance zone and test it from the opposite side, then we can expect continued purchases. The level of working off for updating the next maximum is 160.79, if the impulse is strong, then we may catch - 1.845. Also, I do not exclude from the shower level - 1.840, a decrease in the currency to the lower boundaries - 1.825, which will give a wonderful opportunity to insert into purchases at more favorable prices. EURNZD pair failed to return under the support at 1.8401, and the sellers lost their chance to continue the price decline. Since we held above 1.8401, the daily and four-hour scales remain as broken ranges, and on the hourly scale, the levels of 1.8401 limited the signal for continued growth and the trading range - 1.8588. I expect the EURNZD pair can roll back from the current prices of 1.8450 to the support of 1.8401 at most, but not lower, otherwise the growth will be broken. And from the level of 1.8401, a wave of growth will go towards the resistance at 1.8588. EURNZD. Analyzing the current data, we can see the asset is trading at a price of 1.84333, which is higher than the moving average of 1.84332. We can talk about the fact that buyers prevail in the market, and the price will continue to rise. According to the LRMA BB indicator, there is a high probability of reaching the upper limit of the indicator at 1.84539. However, if the fundamental data has a significant impact on the asset, the price may move higher beyond the upper level of LRMA BB 1.84539. Then we can consider opening short positions to sell at the most favorable prices. The key reference point for closing shorts for this strategy will be the lower price of the LRMA BB indicator, which is 1.84125. Considering the above factors, we can decide to enter buy positions. But if the price falls below the moving average, this may be a signal to sell. Here, sellers will change their pricing policy and will strive to reach the lower level of LRMA BB - 1.84125. Happy trading to everyone!