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Weekly forecast Euro / New Zealand Dollar technical chart
Symbol EURNZD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.68489 to 1.69683). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.68489)
  • Ending of entry zone (1.69683)

DateJuly 17, 2022 - 12:04
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 1.69683, beginning of downtrend is expected.
  • We make sure when the support at 1.63016 breaks.
  • If the resistance at 1.69683 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.68397 on 2022-05-12 and the peak at 1.69659 on 2022-07-01, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.69660 on 07/01/2022, so more losses minimum to Major Support (1.63016) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Take Profits:

  1. 1.65304
  2. 1.63016
  3. 1.61000
  4. 1.57714
  5. 1.56129
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / New Zealand Dollar (EURNZD) Sun, 24 Mar 2024
Euro / New Zealand Dollar (EURNZD) Sun, 17 Mar 2024
Euro / New Zealand Dollar (EURNZD) Sun, 10 Mar 2024
Euro / New Zealand Dollar (EURNZD) Sun, 3 Mar 2024
Euro / New Zealand Dollar (EURNZD) Thu, 29 Feb 2024