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EUR/NZD Potential Upward Movement

EUR/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.7087, 1.7115, 1.7145

Key Support Levels: 1.7036, 1.6998, 1.6952

1-Hour Chart:

The price is trending to the upside by posting higher highs and lows. It managed to break the strong resistance around the 1.7036 USD mark and now it is playing the role of a support. The pair retrace to it by posting a correction and we expect a move to the upside after the pullback.

EUR/NZD Medium-Term Trend: Bullish

15-mins Chart:

On the 15-mins time frame, the pair is trading inside a pennant flag. The price managed to break it to the upside. A lower correction might be seen to the highlighted zone. This move could lead to a move upward again to the target profit.

Signal Idea:

Buy Market Order @ 1.7051

TP 1 @ 1.7083

TP 2 @ 1.7115

Stop Loss @ 1.7035

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Hi Joe,
    The profit of free trading ideas are in the range of fractions of a percent. Befire I subscribe i would like to know if the paid subscription offers the same ki d of profit in the trading ideas.
    Regards,
    Israel

    • Hi Israel, we provide 1:2 / 1:3 risk to reward. So there is no fractions of a percent, that is all determined by how much you risk. If you risk 10% and we win 2%, that’s a 20% win, though we don’t recommend risking that much. It’s an example so you know how it works.

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