FX.co ★ Fazal-Abbas | EUR/NZD

PAIR REVIEW EURNZD As we can see, the bulls failed to break the first resistance level. At the moment, analyzing the situation on the hourly chart, we can note the EURNZD pair is in a bearish trend and is now trying to gain a foothold below the pivot line. During today’s trading session, the pair is trading at 1.7941. The price is below the Ichimoku cloud, which shows a downward momentum. This means that when the senior candle closes below the pivot, we can consider entering a short position. The stochastic indicator is directed downwards. The intraday reference point for the decline is the classic Pivot reversal levels. I think that continued decline from current levels and a breakout below the first support level of 1.7860 will lead to a recent wave of decline in the pair and continued movement south below the support in 1.7753. If players return to the market for an increase, the reference point for the current section of the chart will be the resistance level of 1.8124. Greetings to the inhabitants of this thread. I will try to analyze the situation on the EURNZD currency pair. I expect the pair to attempt growth, but it is best to enter purchases from the lower levels. Today, these will be two levels 1.79002 and 1.78997. This is the most favorable place to buy on this currency pair. As a target, I chose the level 1.80214. If everything goes well, then today this will be an excellent investment in purchases. The optimal stop loss size has also been selected. If something goes wrong, then everything will close at the level of 1.78972. Losses will be insignificant. Working out the stop loss level will show the need to act in the opposite position. The profit to stop ratio is quite large. I hope my expectations will be met.