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 ranging between the .236 at 1.85753 and the .618 at 1.66007. It hit the top of the range and is headed back down towards the up trend line and sitting just below the .382. The rsi is just reaching the buy zone. When it is ready it will move up to the top of the range at the .236 at 1.85753 giving 1,014 pips.
Daily shows this pair has been going upward in a step and ladder pattern for some time, each time making higher highs and higher lows. The rsi is just above the buy zone indicating further down movement to come from this pair before it starts to move up to the sell zone. Once it does move up, it should reach the .270 at 1.80875 giving 442 pips. If it continues to the 1.618 at 1.83123 this would give 658 pips.
Hourly shows this pair has been following the down trend line for some time. It has now crossed it and is sitting on the down trend line trying to decide which way to go. The rsi has just reached the sell zone which should make this pair come down to the .270 at 1.76259 giving 47 pips. If it continues to the 1.618 at 1.75627 this would give 110 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.