Analysis of EURNZD - Weakness of Sellers and Presence of Buyers
💹 Let's dive into analyzing this Forex pair and update our previous analysis, while also identifying new entry points.
📅 Weekly Schedule:
Monday: Bitcoin and its dominance analysis , Tuesday: Ethereum and ETHBTC analysis 🏦, Wednesday: Gold analysis
🏦 Today, being Wednesday, we'll upload the gold analysis later in the evening. This means we're dedicating the entire day to Forex analysis!
📊 Previous Analysis Update :
In our previous analysis of this Forex pair, we were looking for a short position, waiting for the break of the significant daily support level at 1.78582. This break indeed occurred, and as this was a daily support level, we witnessed a notable move in this pair.
📆 Weekly Time Frame Analysis :
On the weekly time frame, like many other Forex pairs, we are ranging within a long-term box from 1.74444 to 1.83926. The significant movements and trends are more visible in the lower time frames.
📅 Daily Time Frame Analysis :
Similarly, on the daily time frame, the same situation is unfolding. However, this time, after bouncing from the bottom of the box, we changed the trend midway and didn't reach the top of the box. This indicates increasing seller pressure and underscores the importance of the 1.74465 support level.
⏰ Four-Hour Time Frame Analysis :
On the four-hour time frame, after breaking the 1.78553 support and following a downward trend, we are forming a falling wedge pattern. We are seeing lower highs each time, along with decreasing candle sizes and shadows, indicating a lack of seller presence, which could lead to a potential buyer presence soon.
📈 Long Position Strategy :
For a long position, after breaking the trendline and this pattern, we can consider entering at 1.76312 (risky) or 1.77095 (more secure).
📉 Short Position Strategy :
For a short position, there is no clear setup at the moment, and no momentum is behind us. If you are waiting for a short position, be patient for a new setup or watch for candles around the 1.75598 support and consider entering after its break.
📌 Support and Resistance Levels :
Supports: 1.75598, 1.74465, 1.71908
Resistances: 1.76312, 1.77095, 1.78553
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
📅 Weekly Schedule:
Monday: Bitcoin and its dominance analysis , Tuesday: Ethereum and ETHBTC analysis 🏦, Wednesday: Gold analysis
🏦 Today, being Wednesday, we'll upload the gold analysis later in the evening. This means we're dedicating the entire day to Forex analysis!
📊 Previous Analysis Update :
In our previous analysis of this Forex pair, we were looking for a short position, waiting for the break of the significant daily support level at 1.78582. This break indeed occurred, and as this was a daily support level, we witnessed a notable move in this pair.
📆 Weekly Time Frame Analysis :
On the weekly time frame, like many other Forex pairs, we are ranging within a long-term box from 1.74444 to 1.83926. The significant movements and trends are more visible in the lower time frames.
📅 Daily Time Frame Analysis :
Similarly, on the daily time frame, the same situation is unfolding. However, this time, after bouncing from the bottom of the box, we changed the trend midway and didn't reach the top of the box. This indicates increasing seller pressure and underscores the importance of the 1.74465 support level.
⏰ Four-Hour Time Frame Analysis :
On the four-hour time frame, after breaking the 1.78553 support and following a downward trend, we are forming a falling wedge pattern. We are seeing lower highs each time, along with decreasing candle sizes and shadows, indicating a lack of seller presence, which could lead to a potential buyer presence soon.
📈 Long Position Strategy :
For a long position, after breaking the trendline and this pattern, we can consider entering at 1.76312 (risky) or 1.77095 (more secure).
📉 Short Position Strategy :
For a short position, there is no clear setup at the moment, and no momentum is behind us. If you are waiting for a short position, be patient for a new setup or watch for candles around the 1.75598 support and consider entering after its break.
📌 Support and Resistance Levels :
Supports: 1.75598, 1.74465, 1.71908
Resistances: 1.76312, 1.77095, 1.78553
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
