Are you struggling to achieve profits in forex trading? We are going to continue watching the EUR NZD, a very volatile and exciting pair to trade. Still in an Uptrend Over Past 30 Days!
Updated EUR NZD charts
As usual, we will start out the month with a target trade and then go to regular, daily, and hourly charts for the rest of the month. Let’s see how this pair works out this month.
EUR NZD Target Trading/Regular Trading
Daily shows this pair has crossed an up trend line in a dramatic downward move of 842 pips. It has retraced with an engulfing Bull Candle and the rsi is just below the sell zone. This pair might go up a few pips more but should return to it’s downward trajectory. The rsi and MacD is divergent. This pair should reach the .270 at 1.55039 giving 805 pips.
Hourly shows this pair made a dramatic move of 240 pips up just crossing the .270 and is now in retracement. The rsi and MacD are in the sell zone and appear ready to move down to the buy zone. This pair should reach the .236 at 1.62391 giving 57 pips. If it goes to the .382 at 1.62167 this would give 81 pips.
EUR NZD in the news
After 4 down four-hour candles, EUR/NZD snaps its streak, rising 37 pips (0.21%) over the past four-hour candle to close at an exchange rate of 1.7804. Compared to its peers in the Forex, EUR/NZD gave its buyers a return that ranked 13th in terms of percentage change since the last 4 hour candle.CFDtrading.com: EUR NZD 4 Hour Price Update
Bears are in complete control over the EUR/NZD, with this technical indicator sliding deeper into negative territory, according to DailyForex.
As for the near future, the EUR/NZD exchange rate could continue to decline during the following trading sessions. The potential target for bearish traders would be at the 1.7000 level.FX Street
My trading strategy for achieving profits in forex trading
Do you wonder how I analyze the market and do my forex analysis? Pivot points and target trading are used to find the direction of the trades, a method that really helps me and makes me profitable in most of the time. I have already written an article where I explained in detail how target trading works.
Are you struggling to achieve profits in forex trading?
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The last weeks before Christmas are often slower than normal in the currency markets, but hopefully, we will achieve some nice profits in forex trading already now, before this year is over.
Before participating in Foreign Currency Trading (Forex Market) you must consider carefully the risks of the market, which has big rewards potential, yet is also extremely risky. Consider all the risks carefully before investing in the Forex Market. Remember that all the information and signals, prices and trade recommendations provided here on Forex and Profits is only general information and market commentary, thus, it does not incorporate investment advice.