Forex Market Ideas

EURNZD Technical Analysis And Short Term Forecast

Hi Traders! EURNZD technical analysis and short term forecast post is here. The way I would like to analyze the chart for setups is based on multi-timeframe confirmations because in my POV if we get more evidences on different timeframes for the same direction then it makes the setup much more reliable. 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!. Now, let’s start our analysis from the highest timeframe which will be the H4 chart here.

EURNZD H4(4 Hours) Chart Analysis – Heikin Ashi Candles, Downtrend Line Breakout, Higher Highs, ADX Indicator

On the H4 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. In addition to this, the price has broken above the most recent downtrend line and is holding above it. Also, we could see that the price which is moving higher has created higher highs based on the MACD indicator, which is a sign of gaining momentum towards the bullish side. We may consider these as other evidences of bullish pressure. In addition to this, the ADX indicator gave a bullish signal here at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. Also, currently, there are no signs opposing this bullish view. We may now move down to lower timeframe and look for evidences supporting this short-term bullish view.

 

 

 

EURNZD H1(1 Hour) Chart Analysis – Heikin Ashi Candles, Bullish Trend Pattern, ADX Indicator, Strong Support Zone

On the H1 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies here as well in upward moving market conditions so it basically reflects a bullish environment. Also, 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 another 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, in addition to this, the ADX indicator gave a bullish signal here as well at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. So everything looks good here for the bulls and until the strong support zone (marked in green) shown in the image below holds my short-term view remains bullish here and I expect the price to move higher further after pullbacks.

 

 

Technical Analysis & Forecast Summary

EURNZD H4(4 Hours) Chart Analysis 

  • Heikin Ashi Candles, Downtrend Line Breakout, Higher Highs, ADX Indicator

EURNZD H1(1 Hour) Chart Analysis 

  • Heikin Ashi Candles, Bullish Trend Pattern, ADX Indicator, Strong Support Zone

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 stop loss and make sure to set a target and keep a proper risk/reward 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

JOIN HOME TRADER CLUB NOW

And improve your trading with us.

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

 

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

 

Happy Trading!

Arvinth Akash
Home Trader Club Team

Advertisement

Click To Join Our Community Telegram Group

Arvinth Akash

Recent Posts

Weekly Summary And Review 20th December 2024

Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of December…

3 days ago

US Stocks Face Headwind From Rising Yields After Fed Signals Fewer Rate Cuts

The rally in U.S. stocks is encountering a fresh hurdle -- a potentially problematic rise…

4 days ago

EURAUD Short Term Forecast And Technical Analysis

Hi Traders! EURAUD short term forecast and technical analysis post is here. We do our…

4 days ago

GBPCHF Short Term Forecast Follow Up and Update

Hi Traders! GBPCHF short term forecast follow-up and update is here. On October 3th, 2024…

5 days ago

AUDJPY Short Term Forecast And Technical Analysis

Hi Traders! AUDJPY short term forecast and technical analysis post is here. We do our…

5 days ago

GBPCAD Short Term Forecast Update And Follow Up

Hi Traders! GBPCAD short term forecast update and follow up is here. On November 26th,…

5 days ago