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 an up trend line steadingly making it’s way up. It touched the .270 at 1.71255 and dropped back down to the up trend line and on the .236 at 1.68715. It has since produced a large bullish candle and with the rsi in the buy zone appears it will be ready soon to travel back up to the sell zone and the .270 at 1.71255 which will give 195 pips. Confirmation of this pair moving up should be made before placing a buy trade.
Hourly shows this pair has made a movement up of 95 pips up and is in consolidation at the moment and sitting in the middle between the .236 at 1.69191 and the .270 at 1.69678. The rsi is at the buy zone and this pair should move up to the .270 at 1.69678 which would give 33 pips. If it goes to the 1.618 at 1.70001 this would give 66 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.
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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.