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EURNZD Technical Analysis on the Daily Time Frame on 24th April 2018

EURNZD TECHNICAL ANALYSIS

EURNZD on the daily time frame and still within a channel tilted to the upside.

Bulls are back in control and pushing price upwards towards the upper part of the channel.

Buying at these levels would be risky and if ever attempted should be with a tight stop loss.

Observe mode on for this pair and we can initiate a short position on this pair when it reached the upper slanting line of the channel and preferably with a bearish signal in the form of a bearish candlestick formation.

MACD histogram is below the zero line and its histogram is getting shorter. It has yet to break above the zero line but the momentum is to the upside at the moment.

CONCLUSION

We are BULLISH on EURNZD at the moment. We would attempt to take short positions when price reaches slanting line resistance.

We hope that you have benefited from this analysis.

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Have a great trading day ahead!

Ardy Ismail

Lead Currency Strategist / Team Forexachievers

By |2018-04-25T09:21:52+00:00April 24th, 2018|Categories: Daily Technical Strategy, EUR Crosses, NZD Crosses|Tags: |0 Comments

About the Author:

Ardy is a Professional Forex Trader specializing in the Forex market. He trades using both Technical and Fundamental Analysis and mentors other traders how to trade the Forex market using proprietary trading strategies which he has developed over the years. He started investing in equities in 1999 and trading Forex in 2008. He is the founder and lead currency strategist @ Forexachievers.com

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