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 been following a down trend line consistently and has now been moving in an up and down fashion toward the down trend line crossed it and is sitting on the first trend line. The rsi is in the middle trying to decide to go up or down. It already hit the .270 at 1.64436 and pierced through almost to the 1.618 but it bounced back up and travelled to the down trend line. This pair should go to the second trend line and on to the .236 at 1.67995 which would give it 240 pips. If it continues to the .382 at 1.69080 this would give it 372 pips. However a careful watch and confirmation to the upside is needed first before placing a buy trade as this could easily take a dip down just to give traders a small thrill.
Hourly shows this pair has been trading in a channel between 1.65349 and 1.66965. It made a 99 pips down move and is consolidating at the moment. The rsi is in the buy zone and this pair should move up to the .618 at 1.65971 giving 48 pips. If it continues to the .382 at 1.66576 this would give 108 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.