EURNZD Technical Analysis And Short Term Forecast

EURNZD Short Term Forecast Update And Follow Up

Hi Traders! EURNZD technical analysis and short term forecast post is here. We do our analysis on the MetaTrader4 platform (MT4), some very interesting, useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Home Trader Club Spoiler alert – free memberships are available!

EURNZD H4(4 Hours) Chart Analysis – Potential Double Wave Correction, Key Support Zone, Bullish Divergence, RSI Indicator

Looking at the H4 chart, currently it looks like a correction is happening in the form of potential double wave down. Also, we have a key support zone that has formed based on the 61.8%(1.81826) – 100%(1.80623) Fibonacci expansion level of the first wave. The price which was moving lower, reached this key support zone, respected it and is currently bouncing higher from this zone. Also, we have a bullish divergence that has formed between the first low that has formed on 23rd August 2023 and the second low that has formed on 1st September 2023 based on the MACD indicator which we may consider as evidence of bullish pressure. We also have this bullish divergence on the RSI indicator as well, which we may consider as yet another evidence of bullish pressure. In addition to this, currently there are no signs opposing this short term bullish view. So based on all this, until the key support zone holds my short term view remains bullish here. A valid breakout above the most recent downtrend line would be the validation for this short term bullish view.


EURNZD Technical Analysis And Short Term Forecast


Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short-term buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Also, don’t forget to protect your buy trade using a  and make sure to set a target and keep a proper  ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to


And improve your trading with us.

Also, you can get one of our strategies free of charge. You will find all the details 


If you have any further questions, don’t hesitate to drop a comment below!


Happy Trading!

Arvinth Akash
Home Trader Club Team

Click To Join Our Community Telegram Group

Notify of

Inline Feedbacks
View all comments