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Monday, November 12, 2018

[FOREX TIP] EURNZD Price Action Analysis – 13th Nov 2018

EURNZD has been having a strong Bearish momentum on the H4 chart. The price has kept making lower lows on the chart and heading towards the South. As things stand with the chart, it shows that the pair had a consolidation. Thus, if it makes another breakout towards the downside, then the sellers will have another opportunity to go short on the pair and grab some green pips. Let us have a look at the H4 EURNZD chart.

EURNZD Price Action Analysis – 13th Nov 2018

EURNZD Price Action Analysis – 13th Nov 2018

The chart clearly suggests that the sellers have been dominating on the pair. The level of 1.66690 is the level, which made the price go upward a little up to the level of 1.67295. The level of 1.67295 has the potential to be the level of Resistance here. If it does happen and we get an H4 breakout at the level of 1.66690, then the price would go towards the level of 1.65000. Summary of the trade…

  • Sell Stop Order: 1.66690
  • Stop loss: 1.67295
  • Take profit: 1.65000
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

EURNZD is a pair, which usually has more spread than the usual pairs. However, if we look at the daily range of EURNZD, then it seems to be lucrative to trade on the pair. The pair moved down about 160 pips yesterday whereas EURUSD moved down less than 120 pips yesterday. This means EURNZD’s has some extra pips to offer. These pips may well cover the extra spreads that we pay to the brokers. We need to count both of them.

The post EURNZD Price Action Analysis – 13th Nov 2018 appeared first on Advanced Forex Strategies.



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[FOREX TIP] NZDJPY Price Action Analysis – 10th Nov 2018

NZDJPY made a strong Bullish move on the H4 chart. The pair has been Bullish for the last two weeks. On the last Friday, the pair made some correction on the H4 chart. As it seems, the pair might have found a level of Support again, it the price may go towards the North again if we get an upside H4 breakout today. Let us have a look at the NZDJPY chart.

NZDJPY Price Action Analysis – 10th Nov 2018

NZDJPY Price Action Analysis – 10th Nov 2018

The chart clearly shows that the H4 candles have kept making higher highs by making breakouts towards the North. However, the level of 77.150 came into play; the price could not make a breakout in the last two trading days. The price then came at the level of 76.500 where it produced an H4 Bullish Engulfing Candle today. If things go well, the price might keep going towards the upside and make an H4 breakout at the level of 77.150. After an H4 breakout, we have to wait for an H1 Bullish Engulfing Candle right at the breakout level. Let us have a look at the summary of the trade…

  • Buy Stop Order:  77.150
  • Stop loss: 76.500
  • Take Profit: 78.200
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

The NZD or the JPY none of the currency has any high impact news event today. Thus, we have to keep our eyes on the pair closely since the signal might come at any time after an H4 breakout. However, I assume it would come around at GMT 07.00 or GMT 08.00.

The post NZDJPY Price Action Analysis – 10th Nov 2018 appeared first on Advanced Forex Strategies.



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