EURNZD Short Term Forecast Update And Follow Up

Hi Traders! EURNZD short term forecast update and follow up is here. On January 29th, 2025 I shared this “EURNZD Technical Analysis And Short Term Forecast” post in our blog. In this post, let’s do a recap of this setup and see how it has developed now. 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!

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My Idea

On the H4 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. Currently, it looks like a correction is happening. Also we had two strong resistance zones that has formed and the price which was moving higher has broken above these zones and is holding above them. After the breakout these strong resistance zones are acting as two strong support zones for us. Until both these strong support zones shown in the image below(marked in green) holds my short term view remains bullish here and I expect the price to move higher further.

 

 

 

EURNZD H4(4 Hours) Chart Current Scenario

In this pair, based on my technical analysis I mentioned that “Until both these strong support zones shown in the image below (marked in green) holds my short term view remains bullish here and I expect the price to move higher further after pullbacks”. The price action followed my analysis exactly as I expected it to here. The price which was moving lower reached the first strong support zone, respected it and then moved higher from this zone. The price then moved higher further and delivered 1800+ pips move to the upside!

 

 

On the H4 chart, the market provided us with various facts supporting the bullish view. The price which was moving lower created a bullish divergence between the first low that has formed at 1.82534 and the second low that has formed at 1.81712 based on the MACD indicator. The price then moved higher and broke above the most recent downtrend line, we may consider these as facts provided by the market supporting the bullish view. Then as you can see in the image below how the price moved higher after that and provided an amazing move to the upside!

 

 

As traders we always have two choices, the first one is to fall in love with our analysis and try to convince the market and expect the price to move in the direction as per our wish. The second one is to follow the facts that the market provides us and make the right actions according to that. As you know the first option won’t help us and as you can see in the example above what happened when we followed the facts that the market hinted to us and took the right action according to that.

For similar trade ideas and much more I invite you to

 

Happy Trading!

Arvinth Akash
Home Trader Club Team.

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