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
Monthly shows this pair has been moving up in a sloppy, zig zag manner with a good down movement that has broken through the up trend line. The rsi is in the buy zone and does not look ready to turn up to the sell zone yet indicating further down movement to come from this pair. This pair should reach the .618 at 1.66007 which will give 321 pips before it decides to move up. However a careful watch should show when this pair decides to move up to the sell zone and should reach the .382 which would give 872 pips.
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. The rsi is just under the sell zone and appears to be ready to move down to the buy zone. This pair should reach the .720 at 1.67292 of the primary fib giving 160 pips. If it continues to the 1.618 at 1.61425 of the primary fib it will give 765 pips. Note the area of support.
Hourly shows this pair has hit the .270 at 1.68324 and turned back up to the down trend line. Although the rsi is in the buy zone and appears to be headed up to the sell zone, this pair should then come down to complete the fib at the 1.618 at 1.67717 giving 101 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.